4B.—(1) Subject to paragraphs (2) and (3), the Board must specify which of a member’s applicable charges (whether in whole or in part) constitute the property component in order to compute, for the purposes of these Regulations —| (a) | the retirement sum set aside by the member; or | | (b) | the shortfall in the retirement sum applicable to a member. |
(2) The Board may specify an applicable charge under paragraph (1) only if —| (a) | the first account date of the applicable charge is before 10 May 2019; | | (b) | where sub-paragraph (a) does not apply, and the applicable charge is in respect of a leasehold estate in an immovable property — the unexpired term of the leasehold estate, on the first account date, is —| (i) | at least (95 – T1) years, where T1 is the member’s age on the first account date; or | | (ii) | such shorter period as the Board may permit; or |
| | (c) | sub-paragraph (a) does not apply and the applicable charge is in respect of the freehold estate of an immovable property. |
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(3) Paragraph (1) —| (a) | does not apply in computing the retirement sum set aside by a member in accordance with regulation 4(1A) or 4A; | | (b) | applies in relation to regulation 5(4), 5AA or 7 only if the member requests the Board, in the manner required by the Board, to specify any applicable charge under that regulation; and [S 651/2023 wef 01/10/2023] | | (c) | does not apply in relation to regulation 5A, 5B, 5C, 5D or 6 if the member requests the Board, in the manner required by the Board, not to specify any applicable charge under that regulation. [S 281/2022 wef 01/04/2022] |
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(4) In this regulation — “applicable charge” means — | (a) | in relation to regulation 5A — any charge or undertaking under section 15AB(1), (2), (3), (4), (10), (11) or (13) of the Act or a former provision, or section 27C(1)(i), 27D(1)(j), 27DA(1)(i) or 27DB(2)(e) of the Act, except the charge or undertaking to which the payment mentioned in regulation 5A(1) relates; [S 215/2021 wef 01/04/2021] [S 274/2024 wef 31/12/2021] [S 136/2022 wef 01/03/2022] | | (b) | in relation to regulation 5B — any charge or undertaking under section 15AB(1), (2), (3), (4), (10), (11) or (13) of the Act or a former provision, or section 27C(1)(i), 27D(1)(j), 27DA(1)(i) or 27DB(2)(e) of the Act, except any such charge or undertaking in respect of any immovable property to which the reserved amount mentioned in regulation 5B(4)(b) or (6)(b) relates; [S 215/2021 wef 01/04/2021] [S 274/2024 wef 31/12/2021] [S 136/2022 wef 01/03/2022] | | (c) | in relation to regulation 5C or 5D — any charge or undertaking under section 15AB(1), (2), (3), (4), (10), (11) or (13) of the Act or a former provision, or section 27C(1)(i), 27D(1)(j), 27DA(1)(i) or 27DB(2)(e) of the Act; [S 215/2021 wef 01/04/2021] [S 274/2024 wef 31/12/2021] [S 136/2022 wef 01/03/2022] [S 281/2022 wef 01/04/2022] | | (ca) | in relation to regulation 6 — any charge or undertaking mentioned in sub-paragraph (c), except any such charge or undertaking that relates to the “relevant immovable property” mentioned in regulation 3 of the Central Provident Fund (Prescribed Circumstances under Section 13C) Regulations 2022 (G.N. No. S 279/2022) to which the moneys mentioned in regulation 6(1) relate; or [S 281/2022 wef 01/04/2022] | | (d) | in any other case — any relevant property charge, or any charge or undertaking under section 15AB(1), (2), (3), (4), (10), (11) or (13) of the Act or a former provision, or section 27C(1)(i), 27D(1)(j), 27DA(1)(i) or 27DB(2)(e) of the Act; [S 215/2021 wef 01/04/2021] [S 274/2024 wef 31/12/2021] [S 136/2022 wef 01/03/2022] |
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| “first account date” means the date (whether before, on or after 10 May 2019) when the applicable charge is first taken into account by the Board as part of the retirement sum applicable to the member mentioned in regulation 4. [S 366/2019 wef 10/05/2019] |
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