Central Provident Fund Act
(Chapter 36, Section 77(1)(h))
Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations
Rg 14
G.N. No. S 298/1987

REVISED EDITION 1998
(1st January 1998)
[1st December 1987]
Citation
1.—(1)  These Regulations may be cited as the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations.
(2)  These Regulations shall apply to properties sold before, on or after 1st December 1987.
Definitions
2.—(1)  In these Regulations, unless the context otherwise requires —
“Approved HDB-HUDC Housing Scheme” means the scheme approved by the Minister for the purchase of properties by members of the Fund from the Housing and Development Board or from its lessees;
“approved mortgagee” means —
(a)the Minister for Finance incorporated under the Minister for Finance (Incorporation) Act (Cap. 183)
(b)any statutory body established by or constituted under any Act; or
(c)Credit POSB Pte. Ltd., a company incorporated under the Companies Act (Cap. 50)
“Housing and Development Board” means the Housing and Development Board established under section 3 of the Housing and Development Act (Cap. 129);
“housing loan” means a loan obtained by any member on the security of a property from an approved mortgagee to pay the whole or part of the purchase price of the property;
“mortgage” includes any charge on a property to secure the repayment of any money lent;
“property” means a house or flat in any HUDC Housing Estate which is sold by the Housing and Development Board or by its lessee, but does not include a house or flat in Phase I or Phase II of such Estate or a house or flat in such Estate sold after the issue of a subsidiary strata title in respect of it pursuant to an application under section 126 of the Land Titles (Strata) Act (Cap. 158).
(2)  A reference in these Regulations to the purchase of a property includes a purchase made under an agreement for the sale and purchase of the property where title to the property will be conveyed, transferred or assigned to the purchaser on payment of the full purchase price.
Withdrawal of moneys in Fund for payment of deposit for purchase of property
3.  Where a member has made an application to the Housing and Development Board to purchase a property, the Board may, on the application of such member and subject to such terms and conditions as it may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn from the Fund and paid to the Housing and Development Board as a deposit for the purchase of the property.
Withdrawal of moneys in Fund for purchase of property or repayment of housing loan or for both
4.  A member who, before 16th November 1998 has purchased a property or has obtained a housing loan for the purchase of a property 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 payment of the purchase price or part thereof or for the repayment of any housing loan in full or in part, or for both.
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.
[S 90/99 wef 01/03/1999]
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.
[S 90/99 wef 01/02/1999]
Withdrawal of moneys in Fund for payment of fees and other charges in connection with purchase of property
5.—(1)  Where an application for the withdrawal of moneys under these Regulations has been approved by the Board and the member is required to pay any stamp duties, fees and other charges in connection with the purchase of the property, or the creation or discharge of a mortgage on the property or the withdrawal of moneys under these Regulations, the Board may, on the application of such member and subject to such terms and conditions as it may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn and used for all or any of such purposes.
(2)  In this regulation, “mortgage” means a mortgage created before 16th November 1998.
Withdrawal for payment of share in common property transferred by Housing and Development Board
6.—(1)  Where a member who has applied for the withdrawal of moneys in respect of a property under any provision of these Regulations before 16th November 1998 is liable as the owner of that property to pay for a share in any common property transferred by the Housing and Development Board pursuant to an application under section 126 of the Land Titles (Strata) Act (Cap. 158), 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 by him for —
(a)full or partial payment for his share in the common property;
(b)periodic payments towards the repayment of a loan or for full or partial repayment of a loan; and
(c)payment of costs, fees or other incidental expenses arising from the transfer of the common property, the obtaining of the loan or the withdrawal of moneys under this regulation.
(2)  The total amount that may be withdrawn by a member under this regulation shall not exceed the amount determined by the Board.
(3)  In this regulation —
“common property” has the same meaning as in section 3 of the Land Titles (Strata) Act;
“loan” means a loan obtained by a member —
(a)from an approved mortgagee referred to in paragraph (a) or (b) of the definition of “approved mortgagee” in regulation 2(1); or
(b)before 16th November 1998 from an approved mortgagee referred to in paragraph (c) of that definition,
on security of the relevant property to pay in whole or in part for that member’s share in the common property;
“owner” includes a co-owner;
“relevant property” means the property, including the common property, which will be comprised in a subsidiary strata title issued to the owner pursuant to the application under section 126 of the Land Titles (Strata) Act.
(4)  This regulation shall not apply where the member has withdrawn any money from the Fund under the Central Provident Fund (Residential Properties Scheme) Regulations (Rg 6) in respect of the property.
(5)  Where a member has withdrawn moneys under this regulation, regulations 8 and 11 shall apply as if the word “property” therein refers to “relevant property”.
Moneys withdrawn from Fund to be paid by Board to specified persons
7.  All moneys withdrawn from the Fund under these Regulations shall be paid by the Board to the Housing and Development Board or the approved mortgagee or such other person as the Board thinks fit to receive such moneys.
Repayment to Board of moneys withdrawn from Fund
8.  Except as otherwise provided in these Regulations, all moneys withdrawn by a member under these Regulations together with any interest that would have accrued thereto 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)if the property or any interest therein is sold, transferred, assigned or otherwise disposed of by the member;
(b)if the property or any interest therein is sold, transferred, assigned or otherwise disposed of by any mortgagee or by any other person with or without the consent of the Board;
(c)if any mortgage or encumbrance is created over the property in favour of a person without the consent of the Board;
(d)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.
No repayment of moneys on death of member or if withdrawal is authorised by section 15 of Act
9.  Subject to section 15A of the Act, all moneys withdrawn from the Fund under these Regulations plus interest shall cease to be payable to the Board on the death of the member or, subject to the provisions of the Act, when the member is entitled to withdraw the amount standing to his credit in the Fund under section 15 of the Act.
Repayment of moneys to Board if no property is purchased
10.  All moneys withdrawn from the Fund under these Regulations by a member shall become due and payable to the Board —
(a)if the member withdraws his application for the purchase of a property; or
(b)if the agreement entered into by the member and any person for the purchase of a property is rescinded.
Member may sell, transfer, assign, etc., property subject to Board’s approval
11.—(1)  The Board may, in its discretion and subject to such terms and conditions as it may impose, permit a member who has withdrawn money under these Regulations to sell, transfer, assign or otherwise dispose of the property or any of his estate or interest therein in respect of which the withdrawal has been made to any person, if the Board is satisfied that adequate arrangements have been made to secure the repayment of money into the member’s account in the Fund in the manner provided in paragraph (2) or (3).
(2)  Where the net proceeds arising from such sale, transfer, assignment or disposition exceed the purchase price of the property —
(a)the net proceeds of the sale, transfer, assignment or disposition; or
(b)all moneys withdrawn by him together with any interest that would have accrued thereto if the withdrawal has not been made,
whichever is the less, shall be repaid to his account in the Fund.
(3)  Where the net proceeds arising from such sale, transfer, assignment or disposition do not exceed the purchase price of the property —
(a)the net proceeds of the sale, transfer, assignment or disposition; or
(b)all moneys withdrawn by him excluding accrued interest,
whichever is the less, shall be repaid to his account in the Fund.
Repayment of moneys to Board where property is compulsorily acquired by Housing and Development Board
12.  Where a member has withdrawn any moneys under these Regulations and the property in respect of which the withdrawal was made is compulsorily acquired by the Housing and Development Board under section 56 of the Housing and Development Act (Cap. 129), the member shall pay into his account in the Fund —
(a)all moneys withdrawn by him, less any moneys which may be due and owing to the Housing and Development Board; or
(b)the amount of compensation due to the member upon acquisition of the property less any moneys which may be due and owing to the Housing and Development Board,
whichever is the less.
Repayment of moneys where property is vested in Housing and Development Board
13.—(1)  Subject to paragraph (2), no moneys withdrawn shall be repayable by the member to the Fund where a property in respect of which such withdrawal has been made under these Regulations is vested in the Housing and Development Board under section 47 of the Housing and Development Act, and the moneys paid or deposited in respect of the property are forfeited.
(2)  Where any sum of money paid or deposited in respect of the property is refunded to the member by the Housing and Development Board, upon the vesting of the property as mentioned in paragraph (1), the member shall pay into his account in the Fund the amount so refunded to him or all moneys withdrawn by him, whichever is the less.
Repayment of moneys where agreement for purchase of property is void or rescinded by court
14.—(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 by a member and the agreement relating to the purchase of the property in respect of which the withdrawal was made is declared to be void or is rescinded by any court.
(2)  Where any agreement relating to the purchase of a property 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.
Withdrawal of moneys in Fund permitted for purchase of only one property
15.  Unless otherwise approved by the Board, no member of the Fund shall be entitled to make an application for the withdrawal of moneys under these Regulations in respect of more than one property.
Application for withdrawal of moneys in Fund
16.—(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.
[S 298/87; S 25/97]
Saving provision
17.  Regulations 7 to 14 shall continue to apply to any withdrawal of money from the Fund authorised by the Board under these Regulations in force immediately before 16th November 1998.
[S 597/98 wef 16/11/1998]