Transfer of member’s moneys to parent’s or spouse’s retirement account
3.—(1)  Any member who wishes to transfer an amount of moneys out of the sum standing to his credit in the Fund to the retirement account of his parent or spouse under section 18 (a) of the Act shall make an application in such form and supported by such evidence as the Board may require.
(2)  The Board may grant an application made under paragraph (1) subject to such terms and conditions as the Board may impose.
(3)  No application shall be made by a member under this regulation unless —
(a)the total regrossed balance of the member is more than 2 times the prevailing minimum sum in force at the time that the application is made; and
(b)the total amount in cash standing to his credit in the ordinary and special accounts —
(i)is more than 2 times the amount specified in the third column of the Second Schedule to the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) if he attains the age of 55 years on or after 1st July 1995 but before 1st July 2004; or
(ii)is more than 2 times the cash portion of the minimum sum specified in the First Schedule to the Central Provident Fund (New Minimum Sum Scheme) Regulations 2004 (G.N. No. S 386/2004) if he attains the age of 55 years on or after 1st July 2004.
[S 388/2004 wef 01/07/2004]
[S 316/2002 wef 01/07/2002]
(4)  In this regulation and regulation 5, “prevailing minimum sum” means the amount prescribed under section 18B(3)(b) of the Act.
[S 316/2002 wef 01/07/2002]