Central Provident Fund Act
(Chapter 36, Section 77(1)(g))
Central Provident Fund (Residential Properties Scheme) Regulations
Rg 6
REVISED EDITION 1990
(25th March 1992)
[1st June 1981]
Citation
1.  These Regulations may be cited as the Central Provident Fund (Residential Properties Scheme) Regulations.
[S 478 /92]
Definitions
2.  In these Regulations —
“Housing and Development Board” means the Housing and Development Board established under the Housing and Development Act [Cap. 129];
“housing loan” means a loan obtained by a member to finance or re-finance the purchase of a residential property, including the payment of any costs, fees, stamp duties or other incidental expenses incurred in obtaining the loan to finance or re-finance such purchase;
“mortgage” includes any charge on any residential property for securing the repayment of any money lent to any person;
“residential property” means any house or flat which is permitted to be used pursuant to any written law as a dwelling-house and any such house or flat which is in the course of being constructed.
[S 482 /95 wef 1.7.95.]
Member to whom the Regulations do not apply
3.  These Regulations shall not apply to any house or flat in respect of which contributions standing to the credit of a member may be withdrawn by him under any of the following Regulations:
(a)the Central Provident Fund (Approved Housing Schemes) Regulations;
[Rg 12.]
(b)the Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations;
[Rg 4.]
(c)the Central Provident Fund (Ministry of Defence Housing Scheme) Regulations; or
[Rg 13.]
(d)the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations.
[Rg 14.]
[S 387 /93 wef 1.10.93.]
Restriction on withdrawals
4.  A member shall not be entitled to withdraw any money under these Regulations for the payment of the purchase price or part thereof of a residential property or the repayment of any housing loan or part thereof unless he has acquired or will acquire with respect to the residential property —
(a)an estate in fee simple or perpetuity; or
(b)a leasehold estate having an unexpired term of at least 60 years at the date of his application for the withdrawal of money under these Regulations.
[S 478 /92 wef 1.12.92.]
Cash grants
4A.—(1)  Where a cash grant made under an approved scheme administered by the Ministry of National Development has been paid into the Fund for any person under section 14 of the Act and the person has purchased or applied to purchase a residential property, the Board may, subject to these Regulations, and to such terms and conditions as it may impose, permit that person to withdraw the cash grant for all or any of the purposes specified in these Regulations.
(2)  All moneys withdrawn under paragraph (1) together with any interest which would have accrued thereto if the withdrawal has not been made —
(a)shall be payable to the Board if the person has committed a breach of any of the terms and conditions of the cash grant and the Minister for National Development, or any officer duly authorised by him, does not waive the breach in writing; and
(b)notwithstanding regulation 21(3), shall remain payable to the Board on the death of the member or when the member is entitled to withdraw the sum standing to his credit under section 15 of the Act.
[S 341 /96 wef 2.8.96.]
Prior agreement to purchase
5.—(1)  Where a member has entered into an agreement to purchase a residential property or has obtained a housing loan or both whether before or after the commencement of these Regulations, the Board may, on application being made by him 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 and used for the payment of the purchase price or part thereof of the residential property or the repayment of such housing loan or both, as the case may be.
(2)  A member who has obtained a housing loan shall not be entitled to make any withdrawals under these Regulations for the repayment of such loan unless the loan is for a fixed term or is granted on an overdraft basis and the repayment of the loan is secured by a mortgage on the residential property.
(3)  Notwithstanding paragraph (2) the Board may, in its discretion and subject to such terms and conditions as it may impose, authorise a member who has obtained a housing loan to make withdrawals under these Regulations for the repayment of such loan if the Board is satisfied that the loan is for a fixed term or is granted on an overdraft basis and the repayment of the loan is secured by a mortgage on another residential property of which the member is the owner or a joint-owner.
Withdrawal for instalment payments
6.  Where a member has, whether before or after 1st June 1981 obtained a housing loan the repayment of which is secured by a mortgage on that property or another residential property of which he is the owner or a joint-owner and is, required to pay instalments of principal and interests towards the said loan either monthly or at other intervals, the Board may, on application being made by 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 and used for the payment of those instalments.
Board may allow member to withdraw money in certain circumstances
7.  Notwithstanding regulations 5 and 6, the Board may, in its discretion and subject to such terms and conditions as it may impose, allow a member to withdraw money under any of those regulations even if the housing loan obtained by the member is not secured by a mortgage on the residential property or on another residential property of which he is the owner or joint owner.
Total amount to be withdrawn in relation to regulations 5 and 6
8.—(1)  The total amount which a member may withdraw to repay one or more housing loans under regulations 5 and 6 shall be determined by the Board but in no case shall such amount exceed 100% of the value of the residential property at the date of the signing of the agreement for the sale and purchase of the property as assessed by the Board.
(2)  Where a housing loan obtained by a member is granted on an overdraft basis, the total amount of money which the member may withdraw under regulations 5 and 6 shall be such an amount as may be determined by the Board, but in no case shall such amount withdrawn exceed 100% of the value of the residential property at the date of the signing of the agreement for the sale and purchase of the said property assessed by the Board.
Withdrawal for payment of land and dwelling-house constructed thereon
8A.—(1)  Where a member has before, on or after 1st October 1993 taken any loan to finance or re-finance the purchase of any land (with or without any building thereon) and the costs for the construction of any dwelling-house thereon, including the payment of any fee and other incidental expenses which may have been incurred for the purchase of the land and the construction of the dwelling-house, the Board may, on application being made by the member, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn for the repayment of the loan including any fee and other incidental expenses which may have been incurred for the purchase of the land and the construction of the dwelling-house.
(2)  Where a member has at any time purchased any land (with or without any building thereon) and constructs, on or after 1st October 1993, a dwelling-house thereon with his own moneys, the Board may, on application being made by him, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn to reimburse him for the purchase price of the land and the costs of construction of the dwelling-house thereon, including any fee and other incidental expenses which may have been incurred for the purchase of the land and the construction of the dwelling-house.
(3)  Any application under paragraph (2) shall be made within 6 months, or such other period as the Board may allow, from the date of issue of the temporary occupation permit in respect of the dwelling-house and may be approved by the Board subject to such terms and conditions as the Board may impose.
(4)  The total amount of money which a member may withdraw under paragraph (1) or (2) shall not exceed 100% of the value of the residential property, as assessed by the Board, on the date of application by the member under paragraph (1) or (2).
[S 387 /93 wef 1.10.93.]
Total amount to be withdrawn in other circumstances
9.  The total amount of money which a member may withdraw under these Regulations for any one or both of the following purposes:
(a)to make full or partial payment towards the purchase of a residential property;
(b)to make periodic payments towards the repayment of a housing loan or to make full or partial re-payment of a housing loan,
shall not exceed 100% of the value of the residential property on the date of the signing of the agreement for the sale and purchase of the residential property as assessed by the Board.
Board may allow withdrawal of further amount
9A.—(1)  In addition to the total amount which a member may withdraw under regulations 8, 8A and 9, the Board may, on application being made by a member, allow him to withdraw from the amount standing to his credit in the Fund, such further amount as the Board may, in accordance with the direction of the Minister, approve.
(2)  Any withdrawal under paragraph (1) shall be subject to such terms and conditions as the Board may impose.
[S 387 /93 wef 1.10.93.]
Property subject to mortgage
10.—(1)  Where the residential property is subject to one or more subsisting mortgages the Board may, as a condition for the withdrawal of money under these Regulations, require the member to satisfy the Board that the mortgagees have consented —
(a)to the postponement of their mortgages according priority to the Board in respect of all withdrawals authorised by the Board in such manner and on such terms as may be agreed upon between the Board and the mortgagees; and
(b)to obtain the prior written approval of the Board before they sell, sub-mortgage, transfer their mortgage or apply to the Court for an order to foreclose the residential property.
(2)  Where a residential property is purchased or owned by two or more persons the Board may on or after 21st January 1984, as a condition for the withdrawal of money by any one of them under these Regulations, require all the co-purchasers or co-owners to give their written consent to extend any charge under section 21(1) of the Act to all their respective estates or interests in the residential property.
Disbursements in relation to purchase of property
11.  Where an application for the withdrawal of money under these Regulations has been approved by the Board and the member is required to pay any costs, fees, stamp duties or other incidental expenses incurred for the purchase of a residential property or for obtaining any housing loan or the creation or discharge of a mortgage on the property or in connection with the withdrawal of money under these Regulations, the Board may, on his application and on 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 the aforesaid purposes.
Joint purchases
12.—(1)  A member who has purchased a residential property jointly with one or more persons shall not be entitled to make an application for the withdrawal of money under these Regulations unless the relationship between the co-purchasers or co-owners of the property falls within any of the following categories:
(a)husband and wife;
(b)parent and child;
(c)brother and brother, sister and sister or brother and sister;
(d)grandparent, parent and child;
(e)grandparent and grandchild.
(2)  Notwithstanding paragraph (1), the Board may in its discretion permit any withdrawal of money under these Regulations by a member who has purchased a residential property jointly with one or more persons, although the relationship between the co-purchasers or co-owners is not within any of the categories specified in paragraph (1).
(3)  Where two or more co-purchasers or co-owners of a residential property each make an application for the withdrawal of money under regulation 5 or 6 or both, the total amount of money which may be withdrawn by them under either or both of those regulations shall not exceed the limit prescribed by regulation 8 or 9, as the case may be.
Valuation
13.—(1)  For the purpose of assessing the value of any residential property under these Regulations, the Board may appoint a Government valuer or a licensed valuer and the expenses of any such valuation shall be borne by the member concerned.
(2)  Where a member is required to pay the expenses of any valuation under paragraph (1), the Board may, on application being made by the member, 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 expenses.
Members who have withdrawn moneys for purchase of property from certain Statutory Corporations
14.—(1)  
[Rg 12]
[Deleted by S 387 /93 wef 1 /10 /93]
(2)  A member who has withdrawn any money from the Fund for the purchase of a house or flat from the Minister for Finance pursuant to the Central Provident Fund (Ministry of Defence House Scheme) Regulations 1977 or the Housing and Urban Development Company Private Limited pursuant to the Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations 1975 shall on or after 10th March 1984 and before 20th July 1985 be entitled to make an application for the withdrawal of money under these Regulations if it is proved to the satisfaction of the Board that —
(a)the member has sold the house or flat or divested himself of any interest therein and has repaid to the Fund all moneys withdrawn by him under those Regulations plus interest; or
(b)where the member has not sold the house or flat or divested himself of any interest therein, he has repaid to the Fund all moneys withdrawn by him under those Regulations plus interest and a period of 3 years has elapsed since the date of the repayment of such moneys and interest.
[Rg 13.]
[Rg 4.]
(3)  A member who has withdrawn any money from the Fund for the purchase of a house or flat from the Minister for Finance pursuant to the Central Provident Fund (Ministry of Defence Housing Scheme) Regulations or the Housing and Urban Development Company Private Limited pursuant to the Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations shall on or after 20th July 1985 be entitled to make an application for the withdrawal of money under these Regulations if it is proved to the satisfaction of the Board that the member has repaid to the Fund all moneys withdrawn by him under those Regulations plus interest and a period of one year has elapsed since the date of the signing of the agreement for the sale and purchase of the residential property in respect of which the withdrawals were made, or where there is no such agreement, from such other date as may be determined by the Board.
[Rg 13.]
[Rg 4.]
(4)  Paragraph (3) shall not apply to any moneys standing to the credit of a member in the Fund which the member has not previously withdrawn for any purpose under these Regulations.
(5)  Notwithstanding paragraphs (2) and (3), where a house or flat has been purchased jointly by two or more persons, the Board may allow any of those persons who has previously withdrawn any money from the Fund pursuant to any of the Regulations specified in paragraph (2) or (3) and who has divested himself of his interest in such house or flat and has repaid all moneys withdrawn by him under those Regulations plus interest to make an application for the withdrawal of money under these Regulations in respect of a residential property at any time after the date on which such person has divested himself of his interest in the house or flat.
Withdrawal for more than one property
15.  Subject to regulations 14 and 16, a member shall on or after 20th July 1985 be entitled to make an application for the withdrawal of money under these Regulations in respect of more than one residential property.
Subsequent sale — effect on further application
16.—(1)  A member who has withdrawn any money under these Regulations shall on or after 10th March 1984 be entitled to make a further application for the withdrawal of money from the Fund under these Regulations in respect of another residential property if —
(a)the member has repaid to the Fund all moneys withdrawn by him under these Regulations plus interest and a period of 3 years has elapsed since the date of the repayment of such moneys and interest, whether or not the residential property in respect of which the withdrawals were made has been sold or otherwise disposed of; or
(b)the member has repaid to the Fund all moneys withdrawn by him under these Regulations plus interest and a period of 5 years has elapsed since the date of the signing of the agreement for the sale and purchase of the residential property in respect of which the withdrawals were made, or, where there is no such agreement, from such other date as may be determined by the Board in the circumstances of any particular case, whether or not such residential property has been sold or otherwise disposed of.
(2)  A member who has withdrawn any money under these Regulations shall on or after 20th July 1985 be entitled to make a further application for the withdrawal of money from the Fund under these Regulations in respect of another residential property if the member has repaid to the Fund all moneys withdrawn by him under these Regulations plus interest and a period of one year has elapsed since the date of the signing of the agreement for sale and purchase of the residential property in respect of which the withdrawals were made, or, where there is no such agreement, from such other date as may be determined by the Board, except that this paragraph shall not apply to any moneys standing to the credit of a member in the Fund which the member has not previously withdrawn for any purpose under these Regulations.
(3)  
[Deleted by S 387 /93 wef 1.10.93.]
(4)  Notwithstanding paragraphs (1) and (2), where a residential property has been purchased by two or more persons, the Board may in its discretion allow any of those persons who has previously withdrawn any money under these Regulations and who has divested himself of his interest in such residential property and has repaid all moneys withdrawn by him under these Regulations plus interest to make a further application for the withdrawal of money under these Regulations in respect of another residential property at any time after the date on which such person has divested himself of his interest in the presidential property.
(5)  
[Deleted by S 387 /93 wef 1.10.93.]
Direct payment by Board to vendor, etc.
17.  All moneys withdrawn from the Fund under regulation 4A, 5, 6, 8A, 9A, 11 or 22 shall be paid by the Board to the vendor, mortgagee, chargee or such person as the Board thinks fit to receive such moneys.
Withdrawal for the payment of improvement contribution in respect of upgrading works
17A.—(1)  Where a member is liable as the owner of a residential property to pay improvement contribution to the Housing and Development Board in respect of upgrading works carried out on the residential property under Part IVA of the Housing and Development Act, the Board may, on the application of the member and subject to such terms 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)the payment of such improvement contribution; and
(b)the payment of costs, fees or other incidental expenses arising from such upgrading works.
(2)  All moneys withdrawn from the Fund under this regulation shall be paid by the Board to the Housing and Development Board or such other persons as the Board thinks fit to receive the moneys.
(3)  The total amount that may be withdrawn by a member under this regulation for the payment of improvement contribution in respect of a improvement contribution determined by the Board for the residential property.
(4)  In this regulation, “ owner” , in relation to a residential property, means an owner of such property as defined in section 65D of the Housing and Development Act [Cap. 129] and includes a co-owner of such property.
[S 482 /95 wef 1.7.95.]
Withdrawal for payment of share in common property transferred by Housing and Development Board
17B.—(1)  Where the member is liable as the owner of a residential 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)  All moneys withdrawn from the Fund under this regulation shall be paid by the Board to the Housing and Development Board or such other persons as the Board thinks fit to receive such moneys.
(3)  The total amount that may be withdrawn by a member under this regulation shall not exceed the amount determined by the Board.
(4)  In this regulation —
“common property” has the same meaning as in section 3 of the Land Titles (Strata) Act (Cap.158);
“loan” means a loan obtained by a member, the repayment of which is secured by a mortgage on any residential property of which he is the owner or joint-owner, to pay in whole or in part for that member's share in the common property;
“relevant property” means the residential 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 (Cap.158).
(5)  Notwithstanding the definition of "loan" in paragraph (4), the Board may, in its discretion and subject to such terms and conditions as it may impose, allow a member to withdraw money under this regulation even if the loan obtained by the member is not secured by a mortgage on any residential property of which he is the owner or joint-owner.
(6)  Where a member has withdrawn moneys under this regulation, regulations 18 to 21 shall apply as if the words "residential property" therein refers to "relevant property".
No transfer, etc., so long as money withdrawn remains payable
18.  So long as any money withdrawn by a member remains payable to the Fund under regulation 21, the member shall not sell, transfer, assign or otherwise dispose of the residential property or any of his interest therein without the prior written permission of the Board.
Sale with Board's permission
19.  The Board may 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 residential property or any of his interest therein in respect of which such withdrawal has been made to any person, if the Board is satisfied that adequate arrangements have been made to secure the repayment into the member's account in the Fund of —
(a)all moneys withdrawn by him, and of such interest as would have accrued thereto if the withdrawal had not been made; or
(b)the net proceeds of the sale, transfer, assignment or disposition, as the case may be,
whichever is less.
Member may not mortgage without permission of Board
20.—(1)  As long as any money withdrawn remains payable to the Fund under regulation 21, the member shall not mortgage or in any way encumber the residential property in respect of which the withdrawal had been made without the prior written permission of the Board.
(2)  In granting any permission under paragraph (1), the Board may —
(a)require the member to make adequate arrangements to secure the repayment into the member's account in the Fund of all monies withdrawn by him and of such interest as would have accrued thereto if the withdrawal had not been made; or
(b)impose such other terms and conditions as the Board may think fit.
Return to Board of moneys withdrawn
21.—(1)  Subject to paragraph (2), all moneys withdrawn by a member under these Regulations together with any interest which 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 residential property or any interest therein is sold, transferred, assigned or otherwise disposed of by the member without the consent of the Board;
(b)if the residential 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 residential property without the consent of the Board;
(d)if the member is adjudged a bankrupt;
(e)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;
(f)if the residential property or any estate or interest therein is acquired under the Land Acquisition Act [Cap. 152] or any other written law.
(2)  Upon the happening of any of the events mentioned in paragraph (1) ( b ) or ( f ), the member shall only be required to repay to the Board the net proceeds arising from the sale or other disposition of the residential property by the mortgagee or by any other person, or the amount of any compensation received by the member under the Land Acquisition Act or under any other written law, as the case may be.
(3)  All such moneys and interest referred to in paragraph (1) shall cease to be payable to the Board on the death of the member or when the member is entitled to withdraw the sum standing to his credit in the Fund under section 15 of the Act.
Fees and charges
22.—(1)  A member who has made an application for the withdrawal of money under these Regulations shall be liable to pay any fees or charges in connection with the processing of the application which shall be of such amount as may be determined by the Board.
(2)  The Board may, on application being made by the member, 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 fees or charges.
Applications for withdrawal — how done
23.  An application by a member for the withdrawal of money under 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.