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Formal Consolidation |  1998 RevEd
Members who have withdrawn moneys for purchase of property from certain bodies
17.—(1)  A member who has withdrawn any money from the Fund for the purchase of a house or flat from the Minister for Finance pursuant to the Central Provident Fund (Ministry of Defence Housing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 (Rg 13) or the Housing and Urban Development Company Private Limited pursuant to the Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations (Rg 4) 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member has sold the house or flat or divested himself of any interest therein and has repaid to the Fund all moneys withdrawn by him under those Regulations plus interest; or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member has not sold the house or flat or divested himself of any interest therein, he has repaid to the Fund all moneys withdrawn by him under those Regulations plus interest and a period of 3 years has elapsed since the date of the repayment of such moneys and interest.
(2)  A member who has withdrawn any money from the Fund for the purchase of a house or flat from the Minister for Finance pursuant to the Central Provident Fund (Ministry of Defence Housing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 —
(a)the member has repaid to the Fund all moneys withdrawn by him under those Regulations plus interest; and
(b)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.
(3)  Paragraph (2) shall not apply to any moneys standing to the credit of a member in the Fund which the member has not previously withdrawn for any purpose under these Regulations.
(4)  Notwithstanding paragraphs (1) and (2), where a house or flat has been purchased jointly by 2 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 (1) or (2) and who has divested himself of his interest in the 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.
Informal Consolidation | Amended S 182/2005
17.  [Deleted by S 182/2005 wef 01/04/2005]