Central Provident Fund Act
(CHAPTER 36, Section 77(1)(h))
Central Provident Fund (Approved Housing Schemes) Regulations
Rg 12
G.N. No. S 335/1986

REVISED EDITION 2006
(30th November 2006)
[1st January 1987]
Citation and commencement
1.—(1)  These Regulations may be cited as the Central Provident Fund (Approved Housing Schemes) Regulations.
(2)  Regulation 6 shall be deemed to have come into operation on 1st March 1986.
(3)  Regulation 7 shall be deemed to have come into operation on 2nd June 1984.
Definitions
2.—(1)  In these Regulations, unless the context otherwise requires —
“approved annuity” means an annuity for life, purchased from an insurer, which is approved by the Board;
“approved bank” means any bank approved by the Board;
“approved developer” has the same meaning as in Part IVB of the Housing and Development Act (Cap. 129);
“approved housing scheme” means any scheme approved by the Minister for the purchase or acquisition of houses or flats by members of the Fund;
“bank” has the same meaning as in the Banking Act (Cap. 19);
“flat” includes a studio apartment;
“HDB flat” means a house or flat sold, transferred, assigned or otherwise disposed of under an approved housing scheme by the Housing and Development Board, an approved developer under Part IVB of the Housing and Development Act, or a lessee of the Housing and Development Board;
“house or flat” means a house or flat sold, transferred, assigned or otherwise disposed of under an approved housing scheme, by —
(a)the Housing and Development Board;
(b)an approved developer under Part IVB of the Housing and Development Act;
(c)the Jurong Town Corporation; or
(d)a lessee of the Housing and Development Board or the Jurong Town Corporation;
“housing loan” means a loan obtained by a member from the Housing and Development Board, the Jurong Town Corporation or a private lender as defined in regulation 14A(9) to finance or re-finance the purchase or acquisition of a house or flat;
“insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore;
“Jurong Town Corporation” means the Jurong Town Corporation constituted under section 3 of the Jurong Town Corporation Act (Cap. 150);
“Lease Buyback Scheme” means a scheme by that name administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money part of which is to be used for the payment of the premium for an annuity plan under the Lifelong Income Scheme established and maintained by the Board under section 27K of the Act;
[S 447/2009 wef 01/10/2009]
“Town Council” means a Town Council established under the Town Councils Act (Cap. 329A).
(2)  A reference in these Regulations to the purchase of a house or flat includes a purchase made under an agreement for the sale and purchase of the house or flat where title to the house or flat will be conveyed, transferred or assigned to the purchaser on payment of the full purchase price.
(3)  For the purposes of regulations 13(6), 14(5) and 14A(5)(d), which apply where a member has withdrawn any moneys under these Regulations in respect of the house or flat referred to in regulations 13(2)(a), 14(2)(a)(i) and 14A(2)(a), respectively, or is required under section 27D(1)(iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of the house or flat referred to in regulations 13(2)(b), 14(2)(a)(ii) and 14A(2)(b), respectively, and the member is required to pay or repay to the Board or the Fund any moneys secured by any charge on the house or flat under section 21B(1) or 27F(1)(iv) of the Act (referred to in this paragraph as the relevant charge) or by any undertaking given by the member under section 27D(1)(v) of the Act in relation to the house or flat (referred to in this paragraph as the relevant undertaking), as the case may be, the relevant requirements are as follows:
(a)any of the following applies:
(i)there is a charge created under section 15(9) or (9A) of the Act on an immovable property (not being the house or flat) to secure the payment to the Board of the minimum sum applicable to the member;
(ii)there is an undertaking under section 15(10) of the Act given by the member, being the owner of an immovable property (other than the house or flat), to refund to the Board an amount equal to the minimum sum or part thereof which he is required to set aside in the event the immovable property is sold or otherwise disposed of;
(iii)there is an undertaking under section 15(10) or (10A) of the Act given by the member and one or more other persons, being joint owners of an immovable property (other than the house or flat), to refund to the Board an amount equal to the minimum sum or part thereof which the member is required to set aside in the event the immovable property is sold or otherwise disposed of;
(iv)there is a charge under section 21(1) or 21A(1) of the Act on the member’s estate or interest in an immovable property (not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account;
(v)there is a charge constituted under section 21B(1) of the Act on an immovable property (being an HDB flat as defined in section 2(1) of the Act, but not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account;
(vi)there is a charge under section 27C(1)(v) of the Act on the member’s estate or interest in an immovable property (not being the house or flat) to secure the payment by the member of the amount referred to in section 27C(1)(iii) of the Act;
(vii)there is an undertaking under section 27D(1)(v) of the Act given by the member to pay to the Board the amount referred to in section 27D(1)(iii) of the Act in the event an immovable property (not being the house or flat) is sold or disposed of;
(viii)there is a charge under section 27E(1)(iv) of the Act on the member’s estate or interest in an immovable property (not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account; or
(ix)there is a charge constituted under section 27F(1)(iv) of the Act on an immovable property (being an HDB flat as defined in section 2(1) of the Act, but not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account;
(b)the member designates, in such manner as the Board may require, the immovable property referred to in the applicable sub-paragraph of sub-paragraph (a) as the principal immovable property from which an amount sufficient to cover any deficiency in the minimum sum which the member is required to set aside shall be paid to the Board, on the sale, transfer, assignment or disposal of the immovable property, or on the compulsory acquisition of the immovable property under any written law, out of the proceeds of such sale, transfer, assignment, disposal or compulsory acquisition, as the case may be;
(c)where the member and one or more other persons jointly own the immovable property referred to in the applicable sub-paragraph of sub-paragraph (a), each joint owner of the immovable property (other than the member) gives his consent for the member to designate the immovable property as the principal immovable property for the purposes of sub-paragraph (b);
(d)the member —
(i)applies to the Board, in such manner as the Board may require, not to fully enforce the relevant charge or the relevant undertaking, as the case may be; and
(ii)agrees to such terms and conditions as the Board may impose for not fully enforcing that charge or undertaking; and
(e)the Board grants the member’s application.
[S 447/2009 wef 01/10/2009]
Withdrawal as deposit for or towards purchase or acquisition of house or flat
3.—(1)  Where a member has made an application to the Housing and Development Board, an approved developer or the Jurong Town Corporation to purchase or acquire a house or flat (other than a studio apartment), the Board may, on the application of the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund, to be withdrawn from the Fund and paid to the Housing and Development Board, the approved developer, the Jurong Town Corporation or such other person as may be determined by the Board as a deposit for the purchase or acquisition of the house or flat or for the payment of the purchase price or part thereof of the house or flat.
[S 706/2007 wef 01/01/2008]
(2)  Where a member has attained such age as the Board may determine, the member may apply to the Board to withdraw the whole or any part of the amount standing to his credit in the Fund to be paid as a deposit for the purchase or acquisition of a studio apartment from the Housing and Development Board or for the payment of the purchase price or part thereof of such studio apartment, subject to such terms and conditions as the Board may impose.
[S 706/2007 wef 01/01/2008]
(3)  Unless the Board otherwise permits, a withdrawal from a member’s retirement account under paragraph (1) or (2) may only be made from the balance in the account after deducting the cash amount applicable to that member (if any).
(4)  Unless the Board otherwise permits, the amount which may be withdrawn from the retirement account must not exceed the charge amount applicable to that member.
[S 447/2009 wef 01/10/2009]
(5)  In this regulation —
“cash amount”, in relation to a member, means —
(a)if the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) applies to the member, the applicable amount specified in the third column of the Second Schedule to those Regulations; or
(b)if the Central Provident Fund (New Minimum Sum Scheme) Regulations (Rg 31) applies to the member, 50% of the minimum sum applicable to the member under regulation 4 of those Regulations;
“charge amount”, in relation to a member, means —
(a)if the Central Provident Fund (Minimum Sum Scheme) Regulations (Rg 16) applies to the member, the value of the charge created over the house or flat under regulation 7 of those Regulations;
(b)if the Central Provident Fund (Revised Minimum Sum Scheme) Regulations applies to the member, the applicable amount specified in the fourth column of the Second Schedule to those Regulations; or
(c)if the Central Provident Fund (New Minimum Sum Scheme) Regulations applies to the member, 50% of the minimum sum applicable to the member under regulation 4 of those Regulations.
Withdrawal for payment upon transfer (other than by way of sale) of house or flat
3A.—(1)  Where a member (referred to in this paragraph as the transferor), being the owner or co-owner of a house or flat, will or is required to transfer (other than by way of sale) his estate or interest in the house or flat to another member (referred to in this paragraph as the transferee), the transferee may apply to the Board to withdraw the whole or any part of the amount standing to the transferee’s credit in the Fund for the payment of any amount which the transferor is required, under these Regulations, to pay to the transferor’s account in the Fund upon the transfer.
(2)  The Board may approve an application under paragraph (1) subject to such terms and conditions as it may deem fit to impose from time to time.
[S 706/2007 wef 01/01/2008]
Withdrawal for payment of housing loan
4.—(1)  A member who has purchased or acquired a house or flat or has obtained a housing loan for the purchase or acquisition of a house or flat or both may submit an application to the Board to withdraw the whole or part of the amount standing to his credit in the Fund to be used for the repayment of any housing loan in full or in part.
[S 706/2007 wef 01/01/2008]
(2)  The Board may approve an application under paragraph (1) subject to such terms and conditions as it may deem fit to impose from time to time.
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 which have been 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 for payment of the monthly instalments of principal and interest towards the housing loan in respect of any house or flat purchased or acquired by the member under these Regulations.
[S 706/2007 wef 01/01/2008]
(2)  The total amount which a member may withdraw under paragraph (1) to pay such monthly instalments shall be determined by the Board.
Use of money in special account for payment of housing loan
4B.—(1)  Where a member, as owner of a house or flat, is liable to pay the monthly instalments of principal and interest towards a housing loan in respect of the house or flat —
(a)if the liability to pay arises on or after 1st February 1999, the Board, with the approval of the Minister, may —
(i)on the application of the member or if it considers necessary; and
(ii)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 to be withdrawn by him for the payment of such monthly instalments; and
(b)if the liability to pay arises on or after 1st July 2006, the Board may —
(i)on the application of the member; and
(ii)subject to such terms and conditions as it may impose,
authorise the whole or part of any amount standing to the credit of the member in his special account which had been transferred from his medisave account under section 13(6) of the Act to be withdrawn by him for the payment of such monthly instalments.
(2)  The total amounts which a member may withdraw under paragraph (1)(a) and (b) to pay such monthly instalments shall be determined by the Board.
Use of money in special account for payment of improvement contribution in respect of upgrading works
4C.—(1)  Where a member, as owner of a house or flat, is liable to pay the monthly improvement contributions due to the Housing and Development Board in respect of upgrading works carried out on the house or flat under Part IVA of the Housing and Development Act (Cap.129), or the monthly improvement contributions due to a Town Council in respect of lift upgrading works carried out in relation to the house or flat under Part IVA of the Town Councils Act (Cap. 329A) —
(a)if the liability to pay arises on or after 1st March 1999, the Board, with the approval of the Minister, may —
(i)on the application of the member or if it considers necessary; and
(ii)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 to be withdrawn by him for the payment of such monthly improvement contributions; and
(b)if the liability to pay arises on or after 1st July 2006, the Board may —
(i)on the application of the member; and
(ii)subject to such terms and conditions as it may impose,
authorise the whole or part of any amount standing to the credit of the member in his special account which had been transferred from his medisave account under section 13(6) of the Act to be withdrawn by him for the payment of such monthly improvement contributions.
(2)  The total amounts which a member may withdraw under paragraph (1)(a) and (b) to pay such monthly improvement contributions shall be determined by the Board.
Withdrawal for payment of improvement contributions in respect of upgrading works
5.  A member who is the owner or co-owner or a purchaser or co-purchaser of a house or flat sold by the Housing and Development Board, an approved developer or the Jurong Town Corporation or has purchased or acquired a house or flat under these Regulations may submit an application to the Board to withdraw the whole or part of the amount standing to his credit in the Fund to be used for the payment of improvement contributions due to the Housing and Development Board in respect of upgrading works carried out on the house or flat under Part IVA of the Housing and Development Act (Cap. 129), or improvement contributions due to a Town Council in respect of lift upgrading works carried out in relation to the house or flat under Part IVA of the Town Councils Act (Cap. 329A), including the payment of costs, fees or other incidental expenses arising from such works.
[S 706/2007 wef 01/01/2008]
Change in rate of interest or quantum of loan disbursed
6.—(1)  Where the amount of monthly instalment which a member is required to pay to a lender under a mortgage loan of a house or flat is increased or reduced by reason of a change in the rate of interest on the mortgage loan or in the quantum of the mortgage loan disbursed, the Board shall be entitled to make the necessary adjustment when computing the amount of monthly instalment payable by the member.
(2)  Where a house or flat is jointly owned by 2 or more persons, the Board shall, if none of the joint-owners by notice in writing to the Board indicates otherwise, require the monthly instalment payable by the joint-owners under a mortgage loan of a house or flat to be in the same proportion as that before the change in the rate of interest on the mortgage loan or in the quantum of the mortgage loan disbursed.
Cash grants
7.  Where a cash grant has been paid into the Fund for any person under section 14 of the Act and the person has purchased or acquired or applied to purchase or acquire a house or flat, the Board may, subject to these Regulations and to such terms and conditions as the Board may impose, permit that person to withdraw the cash grant for all or any of the purposes specified in these Regulations.
[S 706/2007 wef 01/01/2008]
Disbursements in connection with purchase or acquisition, etc.
8.—(1)  Where a member is required to pay any stamp duties, fees or other charges in connection with —
(a)the purchase or acquisition of a house or flat by the member, whether or not moneys were withdrawn under these Regulations for such purchase or acquisition;
[S 706/2007 wef 01/01/2008]
(b)the creation or discharge of a mortgage on a house or flat purchased or acquired by, or transferred or assigned to, the member;
[S 706/2007 wef 01/01/2008]
(c)the transfer or assignment to the member of a house or flat; or
(d)the withdrawal of moneys under these Regulations,
the Board may, on the application of the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn and used for that purpose.
(2)  For the avoidance of doubt, where a member is required to pay any stamp duties, fees or other charges in connection with —
(a)any divestment, whether by sale, transfer, assignment or otherwise, of any interest or title by the member in a house or flat; or
(b)the discharge of any mortgage on a house or flat upon divestment by the member of his interest in such house or flat,
no amount standing to his credit in the Fund shall be withdrawn for that purpose.
Board to pay direct to Housing and Development Board, Jurong Town Corporation, Town Councils or approved developers, etc.
9.  All moneys withdrawn from the Fund under these Regulations shall be paid by the Board to the Housing and Development Board, the Jurong Town Corporation, a Town Council, an approved developer or such other person as the Board thinks fit to receive such moneys.
Repayment of moneys on occurrence of certain events
10.—(1)  Except as otherwise provided in these Regulations, all moneys withdrawn by a member under these Regulations (including any moneys lent to him under section 14A of the Act and withdrawn by him under regulation 4A which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made, shall become due and payable to the Board on the occurrence of any of the following events:
(a)the house or flat or any estate or interest therein is sold, transferred, assigned or otherwise disposed of —
(i)by the member without the consent of the Board; or
(ii)by any person other than the member, including any mortgagee, with or without the consent of the Board;
[S 507/2007 wef 01/10/2007]
(iii)[Deleted by S 507/2007 wef 01/10/2007]
(b)if any mortgage or encumbrance is created over the house or flat in favour of any person other than the Housing and Development Board without the consent of the Board;
(c)if the member has committed a breach of any of the terms and conditions imposed by the Board in connection with the withdrawal of moneys under these Regulations.
[S 507/2007 wef 01/10/2007]
(2)  All moneys withdrawn by a member under these Regulations, including —
(a)the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made; and
[S 507/2007 wef 01/10/2007]
(b)any moneys lent to him under section 14A of the Act and withdrawn by him under regulation 4A which have not been repaid,
or such lesser sum as the Board may in its discretion determine, shall become due and payable to the Board on the occurrence of either of the following events:
(i)the member withdraws his application for the purchase or acquisition of the house or flat;
(ii)the agreement entered into by the member for the purchase or acquisition of the house or flat is rescinded, terminated or otherwise aborted.
No repayment of moneys in certain circumstances
11.—(1)  Except as otherwise provided in paragraphs (1A) and (2) and regulations 13, 14 and 14A, where a member —
(a)has withdrawn any moneys under these Regulations in respect of a house or flat; or
(b)is required under section 27D(1) (iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat,
then —
(i)on the death of the member; or
(ii)when the member is entitled to withdraw the amount standing to his credit in the Fund under section 15(2), (3) or (4) of the Act and has complied with the requirements for such withdrawal,
such of the following amounts as may be applicable to the member or, if both amounts are applicable to him, the aggregate of both amounts, shall cease to be payable to his account in the Fund:
(A)if sub-paragraph (a) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (other than any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(B)if sub-paragraph (b) applies to him, the relevant amount.
(1A)  Notwithstanding paragraph (1) and regulations 13, 14 and 14A but subject to paragraph (2), a member who has withdrawn any moneys under these Regulations in respect of a house or flat, or who is required under section 27D(1)(iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, shall not, on the sale, transfer, assignment or disposal of the house or flat, or on the compulsory acquisition of the house or flat under any written law, be required to pay or repay to the Board or the Fund any moneys secured by any charge on the house or flat under section 21B(1) or 27F(1)(iv) of the Act (referred to in this paragraph as the relevant charge) or by any undertaking given by the member under section 27D(1)(v) of the Act in relation to the house or flat (referred to in this paragraph as the relevant undertaking), as the case may be, if —
(a)the member has attained the age of 55 years;
(b)any of the following applies:
(i)there is a charge created under section 15(9) or (9A) of the Act on an immovable property (not being the house or flat) to secure the payment to the Board of the minimum sum applicable to the member;
(ii)there is an undertaking under section 15(10) of the Act given by the member, being the owner of an immovable property (other than the house or flat), to refund to the Board an amount equal to the minimum sum or part thereof which he is required to set aside in the event the immovable property is sold or otherwise disposed of;
(iii)there is an undertaking under section 15(10) or (10A) of the Act given by the member and one or more other persons, being joint owners of an immovable property (other than the house or flat), to refund to the Board an amount equal to the minimum sum or part thereof which the member is required to set aside in the event the immovable property is sold or otherwise disposed of;
(iv)there is a charge under section 21(1) or 21A(1) of the Act on the member’s estate or interest in an immovable property (not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account;
(v)there is a charge constituted under section 21B(1) of the Act on an immovable property (being an HDB flat as defined in section 2(1) of the Act, but not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account;
(vi)there is a charge under section 27C(1)(v) of the Act on the member’s estate or interest in an immovable property (not being the house or flat) to secure the payment by the member of the amount referred to in section 27C(1)(iii) of the Act;
(vii)there is an undertaking under section 27D(1)(v) of the Act to pay to the Board the amount referred to in section 27D(1)(iii) of the Act given by the member in the event an immovable property (not being the house or flat) is sold or disposed of;
(viii)there is a charge under section 27E(1)(iv) of the Act on the member’s estate or interest in an immovable property (not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account; or
(ix)there is a charge constituted under section 27F(1)(iv) of the Act on an immovable property (being an HDB flat as defined in section 2(1) of the Act, but not being the house or flat) to secure the payment of the minimum sum into the member’s retirement account;
(c)the member designates, in such manner as the Board may require, the immovable property referred to in the applicable sub-paragraph of sub-paragraph (b) as the principal immovable property from which an amount sufficient to cover any deficiency in the minimum sum which the member is required to set aside shall be paid to the Board, on the sale, transfer, assignment or disposal of the immovable property, or on the compulsory acquisition of the immovable property under any written law, out of the proceeds of such sale, transfer, assignment, disposal or compulsory acquisition, as the case may be;
(d)where the member and one or more other persons jointly own the immovable property referred to in the applicable sub-paragraph of sub-paragraph (b), each joint owner of the immovable property (other than the member) gives his consent for the member to designate the immovable property as the principal immovable property for the purposes of sub-paragraph (c);
(e)the Board is satisfied that the member has complied with the requirements of section 15(6) of the Act;
(f)the member —
(i)applies to the Board, in such manner as the Board may require, not to enforce the relevant charge or the relevant undertaking, as the case may be; and
(ii)agrees to such terms and conditions as the Board may impose for not enforcing that charge or undertaking; and
(g)the Board grants the member’s application.
[S 447/2009 wef 01/10/2009]
(2)  Where a person has, on or after 1st January 1994 and pursuant to regulation 7, withdrawn a cash grant made under an approved scheme administered by the Ministry of Social and Family Development, the cash grant withdrawn from the Fund plus interest shall remain payable to the Board if the person, before attaining the age of 45 years, has committed a breach of any of the terms and conditions of the cash grant and the Minister for Social and Family Development, or an officer duly authorised by him, has not waived the breach in writing.
[S 522/2012 wef 01/11/2012]
Purchase which does not materialise
12.  [Deleted by S 367/2006]
Permitted sale and disposition of proceeds of house or flat
13.—(1)  This regulation does not apply to any house or flat to which regulation 14A applies.
(2)  The Board may, in its discretion and subject to such terms and conditions as it may impose, permit a member who —
(a)has withdrawn any moneys under these Regulations in respect of a house or flat; or
(b)is required under section 27D(1)(iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat,
to sell, transfer, assign or otherwise dispose of the house or flat or any of his estate or interest therein to any person, if the Board is satisfied that adequate arrangements have been made to secure the payment into the member’s account in the Fund of the amount specified in this regulation or such other amount as the Board may allow.
[S 507/2007 wef 01/10/2007]
(3)  Subject to paragraphs (7), (10) and (11), where the member making the sale, transfer, assignment or disposal is below the age of 55 years at the time of the sale, transfer, assignment or disposal, he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(a)the net proceeds of the sale, transfer, assignment or disposal; or
(b)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (2)(a) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (2)(b) applies to him, the relevant amount.
[S 507/2007 wef 01/10/2007]
[S 706/2007 wef 01/10/2007]
[S 736/2011 wef 30/12/2011]
(4)  [Deleted by S 736/2011 wef 30/12/2011]
(5)  Subject to paragraphs (6), (10) and (11), where the member making the sale, transfer, assignment or disposal —
(a)has attained the age of 55 years at the time of the sale, transfer, assignment or disposal; and
(b)is required to set aside a minimum sum under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the sale, transfer, assignment or disposal; or
(ii)the aggregate of —
(A)the amount of the minimum sum or any deficiency thereof which he is required to set aside; and
[S 693/2008, 01/01/2009]
(B)any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of the house or flat and withdrawn by him under regulation 4A which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
[S 736/2011 wef 30/12/2011]
(6)  Notwithstanding paragraph (5) but subject to paragraphs (7), (10) and (11), where the member making the sale, transfer, assignment or disposal —
(a)has attained the age of 55 years at the time of the sale, transfer, assignment or disposal;
(b)is required to set aside a minimum sum under section 15(6) of the Act; and
(c)is a member in relation to whom the relevant requirements have been satisfied,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the sale, transfer, assignment or disposal; or
(ii)the aggregate of —
(A)the amount specified in the third column of the Second Schedule to the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) which is applicable to him, or such lesser amount as the Board may determine, if he attained the age of 55 years on or after 1st July 1995 but before 1st July 2004;
(B)50% of the minimum sum applicable to him under regulation 4(1)(a) of the Central Provident Fund (New Minimum Sum Scheme) Regulations (Rg 31), or such lesser amount as the Board may determine, if he attained the age of 55 years on or after 1st July 2004; and
(C)any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of the house or flat and withdrawn by him under regulation 4A which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
[S 447/2009 wef 01/10/2009]
[S 736/2011 wef 30/12/2011]
(7)  Subject to paragraphs (10) and (11), where the member sells, transfers, assigns or disposes of the house or flat to any person without consideration or for a consideration below the market value of the house or flat, the member shall, unless the Board otherwise directs, pay to his account in the Fund, in such manner as the Board may determine —
(a)the amount prescribed in paragraph (3)(b), if the member is below the age of 55 years at the time of the sale, transfer, assignment or disposal;
(b)the amount prescribed in paragraph (5)(ii), if the member —
(i)has attained the age of 55 years at the time of the sale, transfer, assignment or disposal; and
(ii)is required to set aside a minimum sum under section 15(6) of the Act; or
(c)notwithstanding sub-paragraph (b), the amount prescribed in paragraph (6)(ii), if the member —
(i)has attained the age of 55 years at the time of the sale, transfer, assignment or disposal;
(ii)is required to set aside a minimum sum under section 15(6) of the Act; and
(iii)is a member in relation to whom the relevant requirements have been satisfied.
[S 736/2011 wef 30/12/2011]
(8)  [Deleted by S 693/2008 wef 01/01/2009]
(9)  [Deleted by S 693/2008 wef 01/01/2009]
(10)  Notwithstanding paragraphs (3) to (7) but subject to paragraph (11), where the member making the sale, transfer, assignment or disposal —
(a)withdraws the sum standing to his credit in the Fund under section 15(2)(d), (e) or (f) of the Act; or
(b)withdraws the minimum sum or any part thereof from his account with an approved bank or his retirement account, or surrenders his approved annuity from an insurer, under section 15(7A)(a), (b) or (ba) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (2)(a) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with any interest that would have been payable thereon if the withdrawal had not been made, or such part thereof as the Board may determine;
(ii)where paragraph (2)(b) applies to him, the relevant amount, or such part thereof as the Board may determine.
[S 736/2011 wef 30/12/2011]
(10A)  Paragraphs (2) to (7) and (10) do not apply to the reduction of the term of the lease of the house or flat, being an HDB flat, pursuant to an agreement entered into between the member and the Housing and Development Board under the Lease Buyback Scheme.
[S 189/2009 wef 01/05/2009]
[S 447/2009 wef 01/10/2009]
[S 736/2011 wef 30/12/2011]
(11)  Notwithstanding paragraphs (3) to (10), where the member transfers (other than by way of sale) his estate or interest in the house or flat to his spouse pursuant to an order of court referred to in section 27D(1)(d) or 27F(1)(c) of the Act —
(a)in the case of an order of court referred to in section 27D(1)(d) of the Act, the person referred to in section 27D(1)(i) of the Act shall pay to the member’s account in the Fund, in such manner as the Board may determine, any amount referred to in section 27D (1) (i) of the Act which the person may be required by the order of court to pay to the Board; or
(b)in the case of an order of court referred to in section 27F(1)(c) of the Act, the member or person referred to in section 27F(1)(i) of the Act shall pay to the member’s account in the Fund, in such manner as the Board may determine, such of the amounts referred to in section 27F(1)(i)(A), (B) and (C) of the Act as may be applicable to the member or person.
[S 507/2007 wef 01/10/2007]
(12)  In this regulation —
“net proceeds”, in relation to any house or flat which is sold, transferred, assigned or disposed of, means any positive difference between —
(a)the consideration for the sale, transfer, assignment or disposal of the house or flat, or, if the Board so elects, the value of the house or flat at the time of the sale, transfer, assignment or disposal as assessed by the Board; and
(b)the aggregate of the following amounts paid in the following order:
(i)any amount under a housing loan from the Housing and Development Board for the purchase or acquisition of the house or flat which has not been repaid;
(ii)any amount which, under any written law, is to be paid to any other person in priority to the Fund; and
(iii)any resale levy imposed by the Housing and Development Board as may be approved by the Board;
“relevant amount” means —
(a)in relation to a member who is required under section 27D(1)(iii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, any positive difference between —
(i)the amount which the spouse of the member has given an undertaking to refund to the Board under section 15(10) or (10A) of the Act in the event the house or flat is sold or otherwise disposed of; and
(ii)the amount which has been paid to the Board under section 27D(1)(i) of the Act towards covering the deficiency in the minimum sum which the spouse is required to set aside; or
(b)in relation to a member who is required under section 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, any positive difference between —
(i)the amount which would have been payable into the account of the member’s spouse in the Fund under paragraph (3), (5), (6), (7) or (10) (excluding such interest or part thereof payable under those paragraphs as the Board may determine), if there was no order of court referred to in section 27F(1)(c) of the Act requiring the transfer (other than by way of sale) of the spouse’s interest in the house or flat to the member; and
[S 447/2009 wef 01/10/2009]
[S 736/2011 wef 30/12/2011]
(ii)the amount which has been paid to the Fund to the credit of the spouse under section 27F(1) (i) of the Act;
“spouse” includes a former spouse.
[S 507/2007 wef 01/10/2007]
(13)  [Deleted by S 507/2007 wef 01/10/2007]
(14)  [Deleted by S 507/2007 wef 01/10/2007]
(15)  [Deleted by S 507/2007 wef 01/10/2007]
(16)  Nothing in this regulation shall apply to the sale, transfer, assignment or disposal of any house or flat where the application for the consent of —
(a)the Housing and Development Board under section 50 of the Housing and Development Act (Cap.129); or
(b)the Jurong Town Corporation under section 38 of the Jurong Town Corporation Act (Cap.150),
as the case may be, in respect of such sale, transfer, assignment or disposal was made before 21st December 2001.
(17)  Regulation 13 in force immediately before 21st December 2001 shall continue to apply in respect of any sale, transfer, assignment or disposal referred to in paragraph (16).
Compulsory acquisition and disposition of proceeds of house or flat
14.—(1)  This regulation does not apply to any house or flat to which regulation 14A applies.
(2)  Where —
(a)a member —
(i)has withdrawn any moneys under these Regulations in respect of a house or flat; or
(ii)is required under section 27D (1) (iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat; and
(b)the house or flat is compulsorily acquired under —
(i)section 56 of the Housing and Development Act (Cap. 129);
(ii)section 46 of the Jurong Town Corporation Act (Cap. 150); or
(iii)any other written law,
the member shall pay to his account in the Fund the amount specified in this regulation or such other amount as the Board may allow, taking into consideration the circumstances of each case.
(3)  Where the member whose house or flat has been acquired is below the age of 55 years at the time of the acquisition, he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(a)the net proceeds of the acquisition; or
(b)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (2)(a)(i) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (2)(a)(ii) applies to him, the relevant amount.
[S 507/2007 wef 01/10/2007]
[S 706/2007 wef 01/01/2008]
(4)  Subject to paragraphs (5) and (9), where the member whose house or flat has been acquired —
(a)has attained the age of 55 years at the time of the acquisition; and
(b)is required to set aside a minimum sum under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the acquisition;
(ii)the aggregate of —
(A)the amount of the minimum sum or any deficiency thereof which he is required to set aside; and
[S 693/2008, 01/01/2009]
(B)any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of the house or flat and withdrawn by him under regulation 4A which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
[S 507/2007 wef 01/10/2007]
[S 706/2007 wef 01/01/2008]
[S 693/2008 wef 01/01/2009]
[S 447/2009 wef 01/10/2009]
(5)  Notwithstanding paragraph (4) but subject to paragraph (9), where the member whose house or flat has been acquired —
(a)has attained the age of 55 years at the time of the acquisition;
(b)is required to set aside a minimum sum under section 15(6) of the Act; and
(c)is a member in relation to whom the relevant requirements have been satisfied,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the acquisition; or
(ii)the aggregate of —
(A)the amount specified in the third column of the Second Schedule to the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) which is applicable to him, or such lesser amount as the Board may determine, if he attained the age of 55 years on or after 1st July 1995 but before 1st July 2004;
(B)50% of the minimum sum applicable to him under regulation 4(1)(a) of the Central Provident Fund (New Minimum Sum Scheme) Regulations (Rg 31), or such lesser amount as the Board may determine, if he attained the age of 55 years on or after 1st July 2004; and
(C)any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of the house or flat and withdrawn by him under regulation 4A which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
[S 447/2009 wef 01/10/2009]
(6)  [Deleted by S 693/2008 wef 01/01/2009]
(7)  [Deleted by S 693/2008 wef 01/01/2009]
(8)  [Deleted by S 693/2008 wef 01/01/2009]
(9)  Notwithstanding paragraphs (3), (4) and (5), where the member whose house or flat has been acquired —
(a)withdraws the amount standing to his credit in the Fund under section 15(2)(d), (e) or (f) of the Act; or
(b)withdraws the minimum sum or any part thereof from his account with an approved bank or his retirement account, or surrenders his approved annuity from an insurer, under section 15(7A)(a), (b) or (ba) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (2)(a)(i) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with any interest that would have been payable thereon if the withdrawal had not been made, or such part thereof as the Board may determine;
(ii)where paragraph (2)(a)(ii) applies to him, the relevant amount, or such part thereof as the Board may determine.
[S 507/2007 wef 01/10/2007]
[S 706/2007 wef 01/01/2008]
[S 693/2008 wef 01/01/2009]
[S 447/2009 wef 01/10/2009]
(10)  In this regulation —
“net proceeds of the acquisition”, in relation to any house or flat which has been acquired, means any positive difference between —
(a)the amount of compensation paid upon the acquisition of the house or flat; and
(b)the aggregate of the following amounts paid in the following order:
(i)any amount under a housing loan from the Housing and Development Board for the purchase or acquisition of the house or flat which has not been repaid;
(ii)any amount which, under any written law, is to be paid to any other person in priority to the Fund; and
(iii)any resale levy imposed by the Housing and Development Board as may be approved by the Board;
“relevant amount” means —
(a)in relation to a member who is required under section 27D(1)(iii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, any positive difference between —
(i)the amount which the spouse of the member has given an undertaking to refund to the Board under section 15(10) or (10A) of the Act in the event the house or flat is sold or otherwise disposed of; and
(ii)the amount which has been paid to the Board under section 27D(1)(i) of the Act towards covering the deficiency in the minimum sum which the spouse is required to set aside; or
(b)in relation to a member who is required under section 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, any positive difference between —
(i)the amount which would have been payable into the account of the member’s spouse in the Fund under paragraph (3), (4), (5) or (9) (excluding such interest or part thereof payable under those paragraphs as the Board may determine), if there was no order of court referred to in section 27F(1)(c) of the Act requiring the transfer (other than by way of sale) of the spouse’s interest in the house or flat to the member; and
[S 693/2008, 01/01/2009]
[S 447/2009 wef 01/10/2009]
(ii)the amount which has been paid to the Fund to the credit of the spouse under section 27F (1) (i) of the Act;
[S 507/2007 wef 01/10/2007]
“spouse” includes a former spouse;
“time of the acquisition” refers to the date of issue of the notice of intention to acquire under —
(a)section 56(3) of the Housing and Development Act (Cap. 129);
(b)section 46(3) of the Jurong Town Corporation Act (Cap. 150); or
(c)any other written law,
as the case may be.
(11)  Nothing in this regulation shall apply to the acquisition of any house or flat where the notice of intention to acquire from —
(a)the Housing and Development Board under section 56(3) of the Housing and Development Act (Cap. 129); or
(b)the Jurong Town Corporation under section 46(3) of the Jurong Town Corporation Act (Cap. 150),
as the case may be, was issued before 21st December 2001.
(12)  Regulation 14 in force immediately before 21st December 2001 shall continue to apply in respect of any acquisition referred to in paragraph (11).
Permitted sale or compulsory acquisition, and disposition of proceeds, of house or flat mortgaged to private lender
14A.—(1)  This regulation shall apply to any house or flat which has been mortgaged by a member to a private lender as security for a private housing loan, whether or not the mortgage is discharged at the time of the sale, transfer, assignment, disposal or compulsory acquisition, as the case may be, of that house or flat.
[S 507/2007 wef 01/10/2007]
(2)  The Board may, in its discretion and subject to such terms and conditions as it may impose, permit a member who —
(a)has withdrawn any moneys under these Regulations in respect of a house or flat; or
(b)is required under section 27D(1)(iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat,
to sell, transfer, assign or otherwise dispose of the house or flat or any of his estate or interest therein, if the Board is satisfied that adequate arrangements have been made to cause the proceeds of the sale, transfer, assignment or disposal to be applied in the following order of priority:
(i)firstly, to discharge any statutory rights and charges of any public authority under any written law over the house or flat;
(ii)secondly, to discharge any encumbrance registered or notified prior to the date of constitution of the Board’s charge over the house or flat;
(iii)thirdly, to pay the Board and the private lender in the order of priority set out in paragraph (4), provided that the total sum paid to the Board shall not exceed the maximum sum as determined in accordance with paragraph (5); and
(iv)fourthly, to pay all other parties to whom moneys are owed by the member in respect of the house or flat, according to the order of priority set out in the Housing and Development (Mortgage to Lender) Rules (Cap. 129, R 10).
[S 507/2007 wef 01/10/2007]
(2A)  Paragraph (2) does not apply to the reduction of the term of the lease of the house or flat, being an HDB flat, pursuant to an agreement entered into between the member and the Housing and Development Board under the Lease Buyback Scheme.
[S 189/2009 wef 01/05/2009]
(3)  Where —
(a)a member —
(i)has withdrawn any moneys under these Regulations in respect of a house or flat; or
(ii)is required under section 27D(1)(iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat; and
(b)the house or flat in respect of which the withdrawal was made is compulsorily acquired under —
(i)section 56 of the Housing and Development Act (Cap. 129);
(ii)section 46 of the Jurong Town Corporation Act (Cap. 150); or
(iii)any other written law,
the member shall cause the compensation paid upon the acquisition to be distributed according to the order of priority set out in paragraph (2).
[S 507/2007 wef 01/10/2007]
(4)  For the purpose of paragraph (2)(iii), the proceeds of the sale, transfer, assignment or disposal shall be paid to the Board and the private lender in the following order of priority:
(a)firstly, in payment to the private lender of an amount equivalent to the amount outstanding under the private housing loan as at the relevant date, less all payments made by the member after the relevant date to the private lender towards the private housing loan;
(b)secondly, in payment to the Board of the aggregate of —
(i)the total, up to 100% of the ascribed value, of —
(A)all moneys withdrawn by the member under these Regulations in respect of the house or flat (excluding the sums referred to in sub-paragraph (ii)); and
(B)if the member is required under section 27F (1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of the house or flat, all moneys withdrawn by the spouse of the member under these Regulations in respect of the house or flat (excluding the sums referred to in sub-paragraph (iii)(A) and (B)), less any portion of those moneys which has been paid to the Fund to the credit of the spouse under section 27F(1)(i) of the Act;
(ii)all moneys withdrawn by the member under these Regulations to pay —
(A)any improvement contribution; or
(B)any costs, fees or other expenses incurred in connection with the withdrawal of moneys under these Regulations or the purchase or acquisition and mortgage of the house or flat; and
(iii)if the member is required under section 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of the house or flat, all moneys withdrawn by the spouse of the member under these Regulations to pay —
(A)any improvement contribution; or
(B)any costs, fees or other expenses incurred in connection with the withdrawal of moneys under these Regulations or the purchase or acquisition and mortgage of the house or flat,
less any portion of those moneys which has been paid to the Fund to the credit of the spouse under section 27F(1)(i) of the Act;
(c)thirdly, in payment to —
(i)the Board of —
(A)the balance of the total sum withdrawn by the member under these Regulations in respect of the house or flat, which has not been paid to the Board under sub-paragraph (b);
[S 507/2007 wef 01/10/2007]
(B)all interest that would have been payable on the total sum withdrawn if the withdrawal had not been made; and
[S 507/2007 wef 01/10/2007]
(C)if the member is required under section 27F (1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of the house or flat, any positive difference between the relevant amount and the sums referred to in sub-paragraph (b)(i)(B) and (iii); and
(ii)the private lender of any unpaid interest accruing after the relevant date under the private housing loan,
all payments to rank equally without preference; and
(d)fourthly, in payment to —
(i)the Board of all costs and expenses incurred by it in connection with its charge which it is entitled to claim from the member under these Regulations and the Act; and
(ii)the private lender of all costs and expenses incurred by it in connection with the mortgage which it is entitled to claim from the member under the private housing loan,
both payments to rank equally without preference.
(5)  For the purpose of paragraph (2)(iii), the maximum sum shall be determined as follows:
(a)subject to sub-paragraphs (b), (h) and (i), where the member is below the age of 55 years at the time of the relevant transaction, the maximum sum shall be an amount equivalent to such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (2)(a) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (2)(b) applies to him, the relevant amount;
(b)subject to sub-paragraphs (h) and (i), where —
(i)the member is below the age of 55 years at the time of the relevant transaction; and
(ii)the relevant transaction is entered into with any person without consideration or for a consideration below the market value of the house or flat,
[S 736/2011 wef 30/12/2011]
the maximum sum shall be an amount equivalent to such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(A)where paragraph (2)(a) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with any interest that would have been payable thereon if the withdrawal had not been made, or such part thereof as the Board may determine;
(B)where paragraph (2)(b) applies to him, the relevant amount, or such part thereof as the Board may determine;
(c)subject to sub-paragraphs (d), (h) and (i), where the member —
(i)has attained the age of 55 years; and
(ii)[Deleted by S 693/2008 wef 01/01/2009]
(iii)is required to set aside a minimum sum under section 15(6) of the Act,
the maximum sum shall be the aggregate of —
(A)the amount of the minimum sum or any deficiency thereof which he is required to set aside; and
[S 693/2008, 01/01/2009]
(B)any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of the house or flat and withdrawn by him under regulation 4A which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(d)subject to sub-paragraphs (h) and (i), where the member —
(i)has attained the age of 55 years;
(ii)is required to set aside a minimum sum under section 15(6) of the Act; and
(iii)is a member in relation to whom the relevant requirements have been satisfied,
the maximum sum shall be the aggregate of —
(A)the amount specified in the third column of the Second Schedule to the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) which is applicable to him, or such lesser amount as the Board may determine, if he attained the age of 55 years on or after 1st July 1995 but before 1st July 2004;
(B)50% of the minimum sum applicable to him under regulation 4(1)(a) of the Central Provident Fund (New Minimum Sum Scheme) Regulations (Rg 31), or such lesser amount as the Board may determine, if he attained the age of 55 years on or after 1st July 2004; and
(C)any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of the house or flat and withdrawn by him under regulation 4A which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
[S 447/2009 wef 01/10/2009]
(e)[Deleted by S 693/2008 wef 01/01/2009]
(f)[Deleted by S 693/2008 wef 01/01/2009]
(g)[Deleted by S 693/2008 wef 01/01/2009]
(h)subject to sub-paragraph (i), where the member —
(i)withdraws the sum standing to his credit in the Fund under section 15 (2)(d), (e) or (f) of the Act; or
(ii)withdraws the minimum sum or any part thereof from his account with an approved bank or his retirement account, or surrenders his approved annuity from an insurer, under section 15(7A)(a), (b) or (ba) of the Act,
the maximum sum shall be an amount equivalent to such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(A)where paragraph (2)(a) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with any interest that would have been payable thereon if the withdrawal had not been made, or such part thereof as the Board may determine;
(B)where paragraph (2)(b) applies to him, the relevant amount, or such part thereof as the Board may determine; and
(i)where the member transfers (other than by way of sale) his estate or interest in the house or flat to his spouse pursuant to an order of court referred to in section 27D(1)(d) or 27F(1)(c) of the Act, the maximum sum shall be an amount equivalent to —
(i)in the case of an order of court referred to in section 27D(1)(d) of the Act, any amount referred to in section 27D (1) (i) of the Act; or
(ii)in the case of an order of court referred to in section 27F(1)(c) of the Act, the aggregate of such of the amounts referred to in section 27F(1)(i)(A), (B) and (C) of the Act as may be applicable.
[S 507/2007 wef 01/10/2007]
[S 706/2007 wef 01/01/2008]
[S 447/2009 wef 01/10/2009]
[S 663/2008 wef 01/01/2009]
(6)  For the purposes of section 21B(3)(d) and (9)(e) of the Act, the Board’s charge and the private lender’s mortgage of the house or flat shall rank according to the order of priority set out in paragraph (4), provided that the total sum paid to the Board shall not exceed the maximum sum as determined in accordance with paragraph (5).
(7)  For the purpose of section 21B(9)(f) of the Act, the payment of moneys shall be in the order of priority set out in the Housing and Development (Mortgage to Lender) Rules (Cap. 129, R 10).
(8)  Regulations 13 and 14 shall not apply to any house or flat to which this regulation applies.
(9)  In this regulation —
“ascribed value” means the value ascribed to the house or flat by the Board for the purposes of these Regulations;
“improvement contribution” means the improvement contribution payable to the Housing and Development Board under the Housing and Development Act (Cap. 129) or the improvement contribution payable to a Town Council under the Town Councils Act (Cap. 329A);
“private housing loan”, in relation to a house or flat, means a loan granted by a private lender to a member solely to finance or re-finance the purchase or acquisition of the house or flat;
“private lender” means —
(a)any bank licensed under the Banking Act (Cap. 19);
(b)any finance company licensed under the Finance Companies Act (Cap. 108);
(c)any direct insurer registered under the Insurance Act (Cap.142);
(d)any merchant bank approved as a financial institution under the Monetary Authority of Singapore Act (Cap. 186); or
(e)in relation to a member, any person which the Housing and Development Board has approved as a mortgagee of that member’s house or flat;
“proceeds”, in relation to any house or flat, means the consideration for the sale, transfer, assignment or disposal of the house or flat, or, if the Board so elects, the value of the house or flat at the time of the sale, transfer, assignment or disposal as assessed by the Board;
“relevant amount” means —
(a)in relation to a member who is required under section 27D(1)(iii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, any positive difference between —
(i)the amount which the spouse of the member has given an undertaking to refund to the Board under section 15(10) or (10A) of the Act in the event the house or flat is sold or otherwise disposed of; and
(ii)the amount which has been paid to the Board under section 27D(1)(i) of the Act towards covering the deficiency in the minimum sum which the spouse is required to set aside; or
(b)in relation to a member who is required under section 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, any positive difference between —
(i)the amount which would have been payable into the account of the member’s spouse in the Fund under sub-paragraph (a), (b), (c), (d) or (h) of paragraph (5) (excluding such interest or part thereof payable under those sub-paragraphs as the Board may determine), if there was no order of court referred to in section 27F(1)(c) of the Act requiring the transfer (other than by way of sale) of the spouse’s interest in the house or flat to the member; and
[S 447/2009 wef 01/10/2009]
(ii)the amount which has been paid to the Fund to the credit of the spouse under section 27F (1) (i) of the Act;
[S 507/2007 wef 01/10/2007]
“relevant date” means the date —
(a)when there is a default in payment of the private housing loan which has not been rectified by the member;
(b)of redemption of the private housing loan; or
(c)on which a notice of intention to compulsorily acquire the house or flat under any written law is served on the member,
whichever is the earliest;
“relevant transaction” means the sale, transfer, assignment, disposal or compulsory acquisition of the house or flat, as the case may be;
[S 507/2007 wef 01/10/2007]
“spouse” includes a former spouse.
[S 507/2007 wef 01/10/2007]
Repayment of moneys where house or flat is vested in Housing and Development Board, Jurong Town Corporation or approved developer
15.—(1)  Subject to paragraph (2), where a member —
(a)has withdrawn any moneys under these Regulations in respect of a house or flat; or
(b)is required under section 27D(1)(iii) or 27F(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat,
no moneys shall be payable by the member to the Fund where —
(i)the house or flat is vested in the Housing and Development Board under section 47 of the Housing and Development Act (Cap. 129), the Jurong Town Corporation under section 40 of the Jurong Town Corporation Act (Cap. 150) or an approved developer under section 65R of the Housing and Development Act; and
(ii)the moneys paid or deposited in respect of the house or flat are forfeited by the Board, Corporation or approved developer, as the case may be.
[S 507/2007 wef 01/10/2007]
(2)  Where any sum of money paid or deposited in respect of the house or flat is refunded to the member by the Housing and Development Board, the Jurong Town Corporation or the approved developer, as the case may be, upon the vesting of the house or flat referred to in paragraph (1), the member shall pay into his account in the Fund whichever is the lesser of the following amounts:
(a)the amount so refunded to him; or
(b)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (1)(a) applies to him, all moneys withdrawn by him under these Regulations in respect of the house or flat (including any moneys lent to him under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by him under regulation 4A which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (1)(b) applies to him, the relevant amount.
[S 507/2007 wef 01/10/2007]
[S 706/2007 wef 01/01/2008]
Void or rescinded agreements
16.—(1)  Subject to paragraph (2), no moneys withdrawn shall be repayable by the member to the Fund where the withdrawal has been made from the Fund under these Regulations and the agreement relating to the purchase or acquisition of the house or flat in respect of which such withdrawal was made is declared to be void or is rescinded by any court.
[S 706/2007 wef 01/01/2008]
(2)  Where any agreement relating to the purchase or acquisition of a house or flat is declared to be void or is rescinded by a court, and the member is entitled to any moneys arising therefrom, the member shall pay such moneys into his account in the Fund.
[S 706/2007 wef 01/01/2008]
Withdrawal for purchase or acquisition of more than one property
17.  Where —
(a)a member has made an application for the withdrawal of moneys standing to his credit in the Fund under —
(i)these Regulations;
(ii)the Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations (Rg 4);
(iii)the Central Provident Fund (Residential Properties Scheme) Regulations (Rg 6);
(iv)the Central Provident Fund (Ministry of Defence Housing Scheme) Regulations (Rg 13); or
(v)the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14),
in respect of any house, flat or other property; and
(b)the Board has authorised the withdrawal of moneys pursuant to that application,
if he makes any other application for the withdrawal of moneys standing to his credit in the Fund under these Regulations in respect of any other house or flat which is purchased or acquired on or after 1st July 2006, the Board may, subject to such terms and conditions as it may impose, authorise the withdrawal of moneys pursuant to that other application.
[S 706/2007 wef 01/01/2008]
Application to undischarged bankrupt
18.—(1)  These Regulations shall apply to any member who is an undischarged bankrupt and who with the consent of the Official Assignee purchases or acquires a house or flat for the occupation of himself or members of his immediate family.
[S 706/2007 wef 01/01/2008]
(2)  Where a member is adjudicated a bankrupt after he has obtained authorisation from the Board under these Regulations to withdraw the whole or part of the amount standing to his credit in the Fund, the Board may, notwithstanding his bankruptcy, permit him to make or continue to make (as the case may be) the authorised withdrawals subject to his compliance with these Regulations, the Act and any other condition which the Board thinks fit to impose.
Manner of application
19.—(1)  An application by a member for the withdrawal of moneys under these Regulations shall be made in writing to the Board in such manner as the Board may direct.
(2)  Any member making the application shall furnish to the Board all such information, evidence and documents as the Board may require.
Fees
20.—(1)  Subject to paragraphs (4) and (5), the fees levied by the Board for rendering services to facilitate withdrawals from the Fund, in a case where the withdrawals are secured by a charge constituted on a house or an HDB flat under section 21B of the Act, and no progress payments are to be made under the agreement for the purchase or acquisition of the house or flat, shall be —
(a)for arranging the disbursement of moneys withdrawn from the Fund — an amount not exceeding $220 (not inclusive of the goods and services tax chargeable under the Goods and Services Tax Act (Cap. 117A));
(b)for arranging the repayment of moneys withdrawn from the Fund and confirming the discharge of the charge earlier constituted — an amount not exceeding $175 (not inclusive of the goods and services tax chargeable under the Goods and Services Tax Act);
(c)for arranging the disbursement of moneys withdrawn from the Fund and for arranging the repayment of moneys withdrawn from the Fund and confirming the discharge of the charge earlier constituted — an amount not exceeding $350 (not inclusive of the goods and services tax chargeable under the Goods and Services Tax Act); and
(d)for answering any inquiry on whether a charge is constituted — $21 (inclusive of the goods and services tax chargeable under the Goods and Services Tax Act).
[S 706/2007 wef 01/01/2008]
(2)  Subject to paragraphs (4) and (5), the fees levied by the Board for rendering services to facilitate withdrawals from the Fund, in a case where the withdrawals are secured by a charge constituted on a house or an HDB flat under section 21B of the Act, and progress payments are to be made under the agreement for the purchase or acquisition of the house or flat, shall be —
(a)for arranging the disbursement of moneys withdrawn from the Fund — an amount not exceeding $320 (not inclusive of the goods and services tax chargeable under the Goods and Services Tax Act (Cap. 117A));
(b)for arranging the repayment of moneys withdrawn from the Fund — an amount not exceeding $175 (not inclusive of the goods and services tax chargeable under the Goods and Services Tax Act);
(c)for arranging the disbursement of moneys withdrawn from the Fund and for arranging the repayment of moneys withdrawn from the Fund — an amount not exceeding $450 (not inclusive of the goods and services tax chargeable under the Goods and Services Tax Act); and
(d)for answering any inquiry on whether a charge is constituted — $21 (inclusive of the goods and services tax chargeable under the Goods and Services Tax Act).
[S 706/2007 wef 01/01/2008]
(3)  Regulation 8 shall apply to the fees referred to in paragraph (1)(a) and (2)(a).
(4)  Where the Housing and Development Board, by its duly authorised officer, acts for the member making the withdrawals, the fee referred to in paragraph (1)(a) or (2)(a), whichever is applicable, may be waived by the Board.
(5)  Where the Housing and Development Board, by its duly authorised officer, acts for the member repaying the moneys withdrawn from the Fund or the other party to whom that member is selling, transferring, assigning or otherwise disposing of his house or flat, the fee referred to in paragraph (1)(b) or (2)(b), whichever is applicable, may be waived by the Board.
[G.N. Nos. S 335/86; S 488/93; S 243/95; S 88/99; S 649/2001; S 694/2002; S 389/2003; S 220/2004; S 485/2004; S 537/2005; S 758/2005; S 367/2006; S 503/2006]
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Last updated 29 Dec 2024
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