Central Provident Fund Act
(CHAPTER 36, Section 77(1)(h))
Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations
Rg 4
REVISED EDITION 2006
(30th November 2006)
[1st September 1975]
Citation
1.  These Regulations may be cited as the Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations.
Definitions
2.  In these Regulations —
“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;
“bank” has the same meaning as in the Banking Act (Cap. 19);
“Company” means the Housing and Urban Development Company (Private) Limited, a company incorporated under the Companies Act (Cap. 50);
“insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore;
“property” includes an interest in a house or flat purchased from the Company.
Application to Board for withdrawal
3.  Where at any time a member of the Fund has entered into an agreement with the Company for the purchase of a property for his own occupation, 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conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn.
Money to be paid to Company
4.  The amount withdrawn by a member of the Fund under regulation 3 shall be paid to the Company on account of the purchase of a property by him.
Instalment payments
5.—(1)  Where a member of the Fund is, in accordance with an agreement entered into with the Company, required to pay monthly instalments of principal and interest on account of the purchase of a property from the Company for his own occupation, the Board may, on his application 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conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn and used for the payment of those monthly instalments.
(2)  The amount which a member of the Fund may withdraw in a month under this regulation shall not exceed the amount of the monthly instalment payable to the Company in that month.
Disbursements in connection with purchase
6.—(1)  Where a member of the Fund is, in accordance with an agreement entered into with the Company, required to pay any survey fees, stamp duties, legal fees and any other fees or charges payable under any written law in connection with the purchase of a property from the Company for his own occupation (including the fees or charges payable by the member where the property is to be mortgaged to the Company), the Board may, on the application of the member and subject to such terms and conditions as the Board may think fit to impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn and used for the purpose of paying such fees and charges.
(2)  Where an application for the withdrawal of money under these Regulations has been approved by the Board and a member of the Fund is required to pay any costs, fees, stamp duties or other incidental expenses incurred in connection with the purchase of the property, 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 the payment of such costs, fees, stamp duties and other incidental expenses.
5% limit for deposit withdrawal
7.  The first withdrawal by a member of the Fund intended to be used as a deposit for the purchase by him of any property under these Regulations shall not exceed 5% of the price of the property.
Withdrawal of money by undischarged bankrupt
8.—(1)  Notwithstanding the provisions of these Regulations, an undischarged bankrupt shall not be entitled to —
(a)make an application to the Board to withdraw money under these Regulations; or
(b)withdraw money under these Regulations except in accordance with paragraph (2).
(2)  Where a member is adjudicated a bankrupt after he has obtained authorisation from the Board to withdraw money under these Regulations, 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.
No sale, mortgage, etc., without Board’s permission to person other than Company
9.—(1)  A member of the Fund who —
(a)has withdrawn any moneys under these Regulations for the purchase of a property (including any moneys lent to him under section 14A of the Act for the purchase of the property and withdrawn by him which have not been repaid); or
(b)is required under section 27C(1)(iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a property,
shall not, without the prior permission of the Board, sell, lease, transfer or assign the property to a person other than the Company.
[S 508/2007 wef 01/10/2007]
(1A)  A member of the Fund who has withdrawn any moneys under these Regulations for the purchase of a property (including any moneys lent to him under section 14A of the Act for the purchase of the property and withdrawn by him which have not been repaid) shall not, without the prior permission of the Board, mortgage the property to, or execute a charge on the property in favour of, a person other than the Company.
(2)  Paragraphs (1) and (1A) shall not apply to —
(a)a member of the Fund who —
(i)is entitled to withdraw the sum standing to his credit in the Fund under section 15(2)(a), (3) or (4) of the Act and has complied with the requirements for such withdrawal; and
(ii)does not withdraw the minimum sum or any part thereof from his account with an approved bank or his retirement account or surrender his approved annuity from an insurer under section 15(7A)(a), (b) or (ba) of the Act; or
(b)a member of the Fund who is entitled to withdraw the sum standing to his credit in the Fund under section 15(2)(b), (c) or (g) of the Act and has complied with the requirements for such withdrawal.
[S 508/2007 wef 01/10/2007]
Board may permit sale, mortgage, etc., to person other than Company on conditions
10.—(1)  The Board may, in its discretion and subject to such terms and conditions as it may impose, permit a member of the Fund who —
(a)has withdrawn any moneys under these Regulations for the purchase of a property (including any moneys lent to him under section 14A of the Act for the purchase of the property and withdrawn by him which have not been repaid); or
(b)is required under section 27C (1) (iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a property,
to sell, mortgage, lease, transfer or assign the property to, or execute a charge on the property in favour of, a person other than the Company if the Board is satisfied that adequate arrangements have been made to secure the payment to the member’s account in the Fund of the amount specified in this regulation or such part thereof as the Board may determine.
(2)  Subject to paragraphs (2A), (3) and (4), where the member of the Fund who sells, mortgages, leases, transfers, assigns or executes a charge on the property is below the age of 55 years at the time of the sale, mortgage, lease, transfer, assignment or execution of the charge, 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, mortgage, lease, transfer, assignment or charge, as the case may be; 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 for the purchase of the property (including any moneys lent to him under section 14A of the Act for the purchase of the property and withdrawn by him 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 444/2009 wef 01/10/2009]
(2A)  Notwithstanding paragraph (2) but subject to paragraphs (3) and (4), where the member of the Fund who sells, mortgages, leases, transfers, assigns or executes a charge on the property —
(a)is below the age of 55 years at the time of the sale, mortgage, lease, transfer, assignment or execution of the charge; and
(b)sells, mortgages, leases, transfers or assigns the property to, or executes the charge on the property in favour of, an immediate family member without consideration or for a consideration below the market value of the property,
he shall, unless the Board otherwise directs, 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 (1)(a) applies to him, all moneys withdrawn by him under these Regulations for the purchase of the property (including any moneys lent to him under section 14A of the Act for the purchase of the property and withdrawn by him 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 444/2009 wef 01/10/2009]
(2B)  Subject to paragraphs (2C), (3) and (4), where the member of the Fund who sells, mortgages, leases, transfers, assigns or executes a charge on the property —
(a)has attained the age of 55 years at the time of the sale, mortgage, lease, transfer, assignment or execution of the charge; 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, mortgage, lease, transfer, assignment or charge, as the case may be; or
(ii)the aggregate of —
(A)the amount of the minimum sum or any deficiency thereof which he is required to set aside; and
(B)any moneys lent to him under section 14A of the Act for the purchase of the property and withdrawn by him 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 444/2009 wef 01/10/2009]
(2C)  Notwithstanding paragraph (2B) but subject to paragraphs (3) and (4), where the member of the Fund who sells, mortgages, leases, transfers, assigns or executes a charge on the property —
(a)has attained the age of 55 years at the time of the sale, mortgage, lease, transfer, assignment or execution of the charge;
(b)is required to set aside a minimum sum under section 15(6) of the Act; and
(c)is a member of the Fund 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, mortgage, lease, transfer, assignment or charge, as the case may be; 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 for the purchase of the property and withdrawn by him 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 444/2009 wef 01/10/2009]
(3)  Notwithstanding paragraph (2) but subject to paragraph (4), where the member of the Fund —
(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 (1)(a) applies to him, all moneys withdrawn by him under these Regulations for the purchase of the property (including any moneys lent to him under section 14A of the Act for the purchase of the property and withdrawn by him 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 (1)(b) applies to him, the relevant amount, or such part thereof as the Board may determine.
(4)  Notwithstanding paragraphs (2) and (3), where a member of the Fund transfers (other than by way of sale) his estate or interest in the property to his spouse pursuant to an order of court referred to in section 27C (1)(c) or 27E(1)(c) of the Act —
(a)in the case of an order of court referred to in section 27C(1)(c) of the Act, the person referred to in section 27C (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 27C (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 27E(1)(c) of the Act, the member or person referred to in section 27E (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 27E (1) (i) (A), (B) and (C) of the Act as may be applicable to the member or person.
(5)  In this regulation —
“net proceeds”, in relation to any property 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 property, or, if the Board so elects, the value of the property 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 for the purchase of the property which has not been repaid; and
(ii)any amount which, under any written law, is to be paid to any other person in priority to the Fund;
“relevant amount” means —
(a)in relation to a member who is required under section 27C (1) (iii) of the Act to make a payment to the Fund upon the sale or disposal of a property, any positive difference between —
(i)the amount payment of which was secured by the charge on the property referred to in section 27C(1)(b) of the Act; and
(ii)the amount which has been paid to the Board under section 27C (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 27E (1) (ii) of the Act to make a payment to the Fund upon the sale or disposal of a property, any positive difference between —
(i)the amount which would have been payable to the account of the member’s spouse in the Fund under paragraph (2), (2A), (2B), (2C) or (3) (excluding such interest or part thereof payable under the applicable paragraph as the Board may determine), if there was no order of court referred to in section 27E(1)(c) of the Act requiring the transfer (other than by way of sale) of the spouse’s interest in the property to the member; and
[S 444/2009 wef 01/10/2009]
(ii)the amount which has been paid to the Fund to the credit of the spouse under section 27E (1) (i) of the Act;
“spouse” includes a former spouse.
(6)  For the purposes of paragraph (2C)( c), which applies where a member of the Fund has withdrawn any moneys under these Regulations in respect of the property referred to in paragraph (1)(a), or is required under section 27C(1)(iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of the property referred to in paragraph (1)(b), and the member is required to pay or repay to the Board or the Fund any moneys secured by any charge on the property under section 21(1), 21A(1) or 27E(1)(iv) of the Act (referred to in this paragraph as the relevant charge), 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 property) 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 property), 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 property), 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 property) 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, but not being the property) 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 property) 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 property) 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 property) 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, but not being the property) 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; and
(ii)agrees to such terms and conditions as the Board may impose for not fully enforcing that charge; and
(e)the Board grants the member’s application.
[S 444/2009 wef 01/10/2009]
[S 508/2007 wef 01/10/2007]
No repayment of moneys in certain circumstances
10A.  Notwithstanding regulation 10, a member of the Fund who has withdrawn any moneys under these Regulations for the purchase of a property, or who is required under section 27C(1)(iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a property, shall not, on the sale, mortgage, lease, transfer, assignment or other disposal of the property, on the execution of a charge on the property, or on the compulsory acquisition of the property under any written law, be required to pay or repay to the Board or the Fund any moneys secured by any charge on the property under section 21(1), 21A(1) or 27E(1)(iv) of the Act (referred to in this regulation as the relevant charge), 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 property) 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 property), 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 property), 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 property) 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, but not being the property) 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 property) 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 property) 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 property) 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, but not being the property) 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 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 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 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; and
(ii)agrees to such terms and conditions as the Board may impose for not enforcing that charge; and
(g)the Board grants the member’s application.
[S 444/2009 wef 01/10/2009]
Manner of application
11.  An application by a member of the Fund under the provisions of these Regulations shall be made in writing to the Board in such manner as the Board may direct; and any member making such application shall furnish to the Board such information, documents and guarantees as the Board may require.
[G.N. Nos. S 205/75; S 80/76; S 219/77; S 32/80; S 167/2002; S 357/2005; S 363/2006]