Central Provident Fund (Approved HDB-HUDC Housing Scheme) (Amendment) Regulations 1999

Status:

Published in Subsidiary Legislation Supplement
on 01 Mar 1999

No. S 90

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Approved Hdb-hudc Housing Scheme) (Amendment) Regulations 1999

In exercise of the powers conferred by section 77(1)(h) of the Central Provident Fund Act, the Minister for Manpower, after consultation with the Central Provident Fund Board, hereby makes the following Regulations:

Citation and commencement

1.—(1) These Regulations may be cited as the Central Provident Fund (Approved HDB-HUDC Housing Scheme) (Amendment) Regulations 1999 and shall, with the exception of regulation 2(b), come into operation on 1st March 1999.

(2) Regulation 2(b) shall be deemed to have come into operation on 1st February 1999.

New regulations 4A and 4B

2. The Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14) are amended —

(a)

by inserting, immediately after regulation 4, the following regulation:

“Loan by Government to member

4A.—(1) Where the Board has, on or after 1st March 1999, credited into the ordinary account of any member moneys lent by the Government to the member pursuant to any approved loan scheme under section 14A of the Act, the Board may —

(a)	on the application of the member; or
(b)	if it considers necessary,

and subject to such terms and conditions as it may impose, permit the member to withdraw such moneys —

(i)	under regulation 4 for payment of the monthly instalments of principal and interest towards a housing loan; or
(ii)	under regulation 6 for payment of the monthly instalments of principal and interest towards the loan obtained by the member for payment for his share in any common property transferred by the Housing and Development Board.

(2) The total amount which a member may withdraw under paragraph (1) to pay such monthly instalments shall be determined by the Board.”; and

(b)

by inserting, immediately after regulation 4A, the following regulation:

“Use of money in special account for payment of housing loan and share in common property transferred by Housing and Development Board

4B.—(1) Where a member, as owner of a property, is liable to pay, on or after 1st February 1999, the monthly instalments of principal and interest towards a housing loan or a loan obtained by him for payment of his share in any common property transferred by the Housing and Development Board, the Board, with the approval of the Minister, may —

(a)	on the application of the member; or
(b)	if it considers necessary,

and subject to such terms and conditions as it may impose, authorise the whole or part of the amount standing to the credit of the member in his special account with the Fund to be withdrawn by him under regulation 4 or 6, as the case may be, for the payment of such monthly instalments.

(2) The total amount which a member may withdraw under paragraph (1) to pay such monthly instalments shall be determined by the Board.”.

Amendment of regulation 9

3. Regulation 9 of the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations is amended by deleting the word "All" in the 1st line and substituting the words "Subject to section 15A of the Act, all".

[G .N. No. S 597/98]

Made this 27th day of February 1999.

TAN CHIN NAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MM C29/68 T4 ; AG/LEG/SL/36/97/8 Vol.1]

(To be presented to Parliament under section 78(2) of the Central Provident Fund Act).

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