Central Provident Fund Act
(Chapter 36, Section 77(1)(h))
Central Provident Fund (Residential Properties Scheme) Regulations
Rg 6
G.N. No. S 159/1982

REVISED EDITION 2006
(30th November 2006)
[1st June 1981]
Citation
1.  These Regulations may be cited as the Central Provident Fund (Residential Properties Scheme) Regulations.
Definitions
2.—(1)  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);
“HDB flat” means a house or flat sold under Part IV or IVB of the Housing and Development Act (Cap. 129) which has been acquired by the member in question whether directly from the Housing and Development Board or otherwise;
[S 188/2009 wef 01/05/2009]
“housing loan” means a loan —
(a)obtained by a member to finance or re-finance the purchase or acquisition of a residential property; or
(b)to make full or periodic payments towards the repayment of a mortgage on any residential property inherited by a member if the mortgage was obtained solely for the purchase or acquisition of that residential property;
“insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore;
“Lease Buyback Scheme” means a scheme by that name administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money part of which is to be used for the payment of the premium for an annuity plan under the Lifelong Income Scheme established and maintained by the Board under section 27K of the Act;
[S 445/2009 wef 01/10/2009]
“Minister for Finance” means the Minister for Finance incorporated under the Minister for Finance (Incorporation) Act (Cap. 183);
[S 584/2007 wef 31/10/2007]
“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;
“Town Council” means a Town Council established under the Town Councils Act (Cap. 329A).
[S 445/2009 wef 01/10/2009]
(2)  For the purposes of regulations 26(2C) and 28(2C), which apply where a member has withdrawn any moneys under these Regulations in respect of the residential property referred to in regulations 26(1)(a) and 28(1)(a)(i), respectively, 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 residential property referred to in regulations 26(1)(b) and 28(1)(a)(ii), respectively, and the member is required to pay or repay to the Board or the Fund any moneys secured by any charge on the residential 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 residential 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 residential 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 residential 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 residential 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 as defined in section 2(1) of the Act, but not being the residential 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 residential 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 residential 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 residential 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 as defined in section 2(1) of the Act, but not being the residential 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 445/2009 wef 01/10/2009]
Application
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 Middle-Income Housing Scheme) Regulations (Rg 4);
(b)the Central Provident Fund (Approved Housing Schemes) Regulations (Rg 12);
(c)the Central Provident Fund (Ministry of Defence Housing Scheme) Regulations (Rg 13); or
(d)the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14).
Restriction on withdrawal
4.—(1)  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.
(2)  Notwithstanding paragraph (1)(b), the Board may, in its discretion and subject to such terms and conditions as it may impose, authorise the withdrawal of 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 where the member has acquired or will acquire, with respect to the residential property, a leasehold estate having an unexpired term of less than 60 years at the date of his application for the withdrawal of money under these Regulations provided that the unexpired term is not less than 30 years.
Cash grants
5.—(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 acquired or applied to purchase or acquire 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.
[S 703/2007 wef 01/01/2008]
(2)  All moneys withdrawn under paragraph (1) 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 —
(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 28(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 512/2007 wef 01/10/2007]
Loan by Government to member
6.—(1)  Where the Board has, on or after 1st March 1999, credited into the ordinary account of any member moneys lent by the Government to the member under any approved loan scheme under section 14A of the Act, the Board may —
(a)on the application of the member; or
(b)if it considers necessary,
and subject to such terms and conditions as it may impose, permit the member to withdraw such moneys —
(i)under regulation 10 for payment of the monthly instalments of principal and interest towards a housing loan; or
(ii)under regulation 23 for payment of the monthly instalments of principal and interest towards a loan obtained by the member for payment for his share in any common property transferred by the Housing and Development Board, the Government or the Minister for Finance pursuant to an application under section 126 of the Land Titles (Strata) Act (Cap. 158).
[S 584/2007 wef 31/10/2007]
(2)  The total amount which a member may withdraw under paragraph (1) to pay such monthly instalments shall be determined by the Board.
Use of money in special account for payment of housing loan and share in common property transferred by Housing and Development Board, Government or Minister for Finance
7.—(1)  Where a member, as owner of a residential property, is liable to pay the monthly instalments of principal and interest towards a housing loan or towards a loan obtained by him for payment for his share in any common property transferred by the Housing and Development Board, the Government or the Minister for Finance pursuant to an application under section 126 of the Land Titles (Strata) Act —
(a)if the liability to pay arises on or after 1st February 1999, the Board, with the approval of the Minister, may —
(i)on the application of the member or if it considers necessary; and
(ii)subject to such terms and conditions as it may impose,
authorise the whole or part of the amount standing to the credit of the member in his special account to be withdrawn by him under regulation 10 or 23, as the case may be, for the payment of such monthly instalments; and
(b)if the liability to pay arises on or after 1st July 2006, the Board may —
(i)on the application of the member; and
(ii)subject to such terms and conditions as it may impose,
authorise the whole or part of any amount standing to the credit of the member in his special account which had been transferred from his medisave account under section 13(6) of the Act to be withdrawn by him under regulation 10 or 23, as the case may be, for the payment of such monthly instalments.
[S 584/2007 wef 31/10/2007]
(2)  The total amounts which a member may withdraw under paragraph (1)(a) and (b) to pay such monthly instalments shall be determined by the Board.
Use of money in special account for payment of improvement contribution in respect of upgrading works
8.—(1)  Where a member, as owner of a residential property, is liable to pay the monthly improvement contributions due 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 (Cap. 129), or the monthly improvement contributions due to a Town Council in respect of lift upgrading works carried out in relation to the residential property under Part IVA of the Town Councils Act (Cap. 329A) —
(a)if the liability to pay arises on or after 1st March 1999, the Board, with the approval of the Minister, may —
(i)on the application of the member or if it considers necessary; and
(ii)subject to such terms and conditions as it may impose,
authorise the whole or part of the amount standing to the credit of the member in his special account to be withdrawn by him for the payment of such monthly improvement contributions; and
(b)if the liability to pay arises on or after 1st July 2006, the Board may —
(i)on the application of the member; and
(ii)subject to such terms and conditions as it may impose,
authorise the whole or part of any amount standing to the credit of the member in his special account which had been transferred from his medisave account under section 13(6) of the Act to be withdrawn by him for the payment of such monthly improvement contributions.
(2)  All moneys withdrawn from the Fund under paragraph (1) shall be paid by the Board —
(a)in the case of monthly improvement contributions in respect of upgrading works carried out on the residential property under Part IVA of the Housing and Development Act (Cap. 129), to the Housing and Development Board; and
(b)in the case of monthly improvement contributions in respect of lift upgrading works carried out in relation to the residential property under Part IVA of the Town Councils Act (Cap. 329A), to the relevant Town Council,
or to such other person as the Board considers fit to receive the moneys.
(3)  The total amounts which a member may withdraw under paragraph (1)(a) and (b) to pay such monthly improvement contributions shall be determined by the Board.
Prior agreement to purchase or acquire
9.—(1)  Where a member has entered into an agreement to purchase or acquire a residential property or has obtained a housing loan or both whether before or after 1st June 1981, 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 the purchase price or part thereof of the residential property or the repayment of the housing loan or both, as the case may be.
[S 703/2007 wef 01/01/2008]
(2)  A member who has obtained a housing loan shall not be entitled to make any withdrawals under these Regulations for the repayment of the 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 the 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 payment upon transfer (other than by way of sale) of residential property
9A.—(1)  Where a member (referred to in this paragraph as the transferor), being the owner or co-owner of a residential property, will or is required to transfer (other than by way of sale) his estate or interest in the residential property to another member (referred to in this paragraph as the transferee), the transferee may apply to the Board to withdraw the whole or any part of the amount standing to the transferee’s credit in the Fund for the payment of any amount which the transferor is required, under these Regulations, to pay to the transferor’s account in the Fund upon the transfer.
[S 703/2007 wef 01/01/2008]
(2)  The Board may approve an application under paragraph (1) subject to such terms and conditions as it may impose.
[S 703/2007 wef 01/01/2008]
Withdrawal for instalment payments
10.  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 interest towards the 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
11.  Notwithstanding regulations 6, 9 and 10, 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 a joint-owner.
Total amount to be withdrawn under regulations 6, 9 and 10
12.—(1)  The total amount which a member may withdraw to repay one or more housing loans under regulations 6, 9 and 10 shall be determined by the Board but in no case shall such amount exceed 100% of the value of the residential property as assessed by the Board at the date of —
(a)the signing of the agreement for the purchase or acquisition of the residential property; or
(b)the inheritance of the residential property,
as the case may be.
[S 703/2007 wef 01/01/2008]
(2)  Where a housing loan obtained by a member is granted on an overdraft basis, the total amount of money that the member may withdraw under regulations 6, 9 and 10 shall be such an amount as may be determined by the Board, but in no case shall the amount withdrawn exceed 100% of the value of the residential property assessed by the Board at the date of —
(a)the signing of the agreement for the purchase or acquisition of the residential property; or
(b)the inheritance of the residential property,
as the case may be.
[S 703/2007 wef 01/01/2008]
Withdrawal for payment of land and dwelling-house constructed thereon
13.—(1)  Where a member has taken any loan to —
(a)finance or re-finance the purchase or acquisition of any land (with or without any building thereon) and the costs of construction of any dwelling-house thereon;
(b)finance the full or periodic repayments of any mortgage on any land inherited by him; or
(c)finance the construction of any dwelling-house on any land inherited by him,
the Board may, on application of the member, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn for the payment of any loan including any fee or other incidental expenses which may have been incurred in connection with the purchase or acquisition of the land or construction of the dwelling-house.
[S 703/2007 wef 01/01/2008]
(2)  Where a member has at any time purchased or acquired any land (with or without any building thereon) or inherited 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 or acquisition of the land and the construction of the dwelling-house.
[S 703/2007 wef 01/01/2008]
(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).
Total amount to be withdrawn in other circumstances
14.—(1)  The total amount of money which a member may withdraw under these Regulations for any one or all the purposes specified in paragraph (2) shall not exceed 100% of the value of the residential property as assessed by the Board at the date of —
(a)the signing of the agreement for the purchase or acquisition of the residential property; or
(b)the inheritance of the residential property,
as the case may be.
[S 703/2007 wef 01/01/2008]
(2)  The purposes referred to in paragraph (1) are —
(a)to make full or partial payment towards the purchase or acquisition of a residential property;
(b)to make periodic payments towards the repayment of a housing loan or to make full or partial repayment of a housing loan; or
(c)to finance the construction of a dwelling-house on any land purchased or acquired by or inherited by the member.
[S 703/2007 wef 01/01/2008]
Board may allow withdrawal of further amount
15.—(1)  In addition to the total amount which a member may withdraw under regulations 12, 13 and 14, 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.
Property subject to mortgage
16.—(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, acquired, inherited or owned by 2 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(1A) of the Act to all their respective estates or interests in the residential property.
[S 703/2007 wef 01/01/2008]
Disbursements in relation to purchase or acquisition of property
17.  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 or acquisition 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 the application of the member and subject to 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.
[S 703/2007 wef 01/01/2008]
Joint purchases or acquisitions
18.—(1)  A member who has purchased, acquired or inherited 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.
[S 703/2007 wef 01/01/2008]
(2)  Notwithstanding paragraph (1), the Board may, in its discretion, permit any withdrawal of money under these Regulations by a member who has purchased, acquired or inherited 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).
[S 703/2007 wef 01/01/2008]
(3)  Where 2 or more co-purchasers or co-owners of a residential property each make an application for the withdrawal of money under regulation 9 or 10 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 12 or 14, as the case may be.
Valuation
19.—(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.
Withdrawal for more than one property
20.—(1)  Subject to paragraph (2), a member shall be entitled to apply for the withdrawal of moneys under these Regulations in respect of more than one residential property.
(2)  Where —
(a)a member has already made an application for the withdrawal of moneys standing to his credit in the Fund under —
(i)these Regulations;
(ii)the Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations (Rg 4);
(iii)the Central Provident Fund (Approved Housing Schemes) Regulations (Rg 12);
(iv)the Central Provident Fund (Ministry of Defence Housing Scheme) Regulations (Rg 13); or
(v)the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14),
in respect of any house, flat or other property;
(b)the Board has authorised the withdrawal of moneys pursuant to that application; and
(c)the member makes any other application for the withdrawal of moneys standing to his credit in the Fund under these Regulations in respect of any other residential property which is purchased or acquired on or after 1st July 2006,
the Board may impose additional terms and conditions for the withdrawal of moneys pursuant to that other application.
[S 703/2007 wef 01/01/2008]
Direct payment by Board to vendor, etc.
21.  All moneys withdrawn from the Fund under regulation 5, 6, 9, 10, 13, 15, 17 or 29 shall be paid by the Board to the vendor, mortgagee, chargee or such other persons as the Board thinks fit to receive such moneys.
Withdrawal for payment of improvement contribution in respect of upgrading works
22.—(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 (Cap. 129), or to pay improvement contribution to a Town Council in respect of lift upgrading works carried out in relation to the residential property under Part IVA of the Town Councils Act (Cap. 329A), 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 a Town Council 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 for the payment of improvement contribution in respect of a residential property shall not exceed the amount of improvement contribution determined by the Board for the residential property.
(4)  In this regulation, any reference to an owner of a residential property liable to pay any improvement contribution shall be read as a reference to an owner of such property as defined —
(a)in section 65D of the Housing and Development Act (Cap. 129) where the improvement contribution is due under the Housing and Development Act; or
(b)in section 24D of the Town Councils Act (Cap. 329A) where the improvement contribution is due under the Town Councils Act,
and includes a reference to any co-owner of such property.
Withdrawal for payment of share in common property transferred by Housing and Development Board, Government or Minister for Finance
23.—(1)  Where a 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, the Government or the Minister for Finance 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.
[S 584/2007 wef 31/10/2007]
(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.
(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 25 to 28 shall apply as if the words “residential property” therein refers to “relevant property”.
Withdrawal of money by undischarged bankrupt
24.—(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 disposal of residential property without Board’s permission
25.—(1)  Where a member —
(a)has withdrawn any moneys under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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 pay any moneys to the Fund upon the sale or disposal of a residential property,
as long as any such moneys remain payable to the Fund, the member shall not sell, transfer, assign or otherwise dispose of the residential property or any of his estate or interest therein without the prior written permission of the Board.
[S 512/2007 wef 01/10/2007]
[S 188/2009 wef 01/05/2009]
(2)  Paragraph (1) does not apply to the reduction of the term of the lease of the residential property, being an HDB flat, pursuant to an agreement entered into between the member and the Housing and Development Board under the Lease Buyback Scheme.
[S 512/2007 wef 01/10/2007]
[S 188/2009 wef 01/05/2009]
Conditions for disposal of residential property
26.—(1)  The Board may, in its discretion and subject to such terms and conditions as it may impose, permit a member who —
(a)has withdrawn any moneys under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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 residential property,
to sell, transfer, assign or otherwise dispose of the residential property or any of his estate or interest therein to any person, 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 making the sale, transfer, assignment or disposal is below the age of 55 years at the time of the sale, transfer, assignment or disposal, 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, transfer, assignment or disposal; 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 in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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 445/2009 wef 01/10/2009]
(2A)  Notwithstanding paragraph (2) but subject to paragraphs (3) and (4), where the member making the sale, transfer, assignment or disposal —
(a)is below the age of 55 years at the time of the sale, transfer, assignment or disposal; and
(b)sells, transfers, assigns or disposes of the residential property or his estate or interest therein to an immediate family member without consideration or for a consideration below the market value of the residential property or his estate or interest therein,
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 in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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 445/2009 wef 01/10/2009]
(2B)  Subject to paragraphs (2C), (3) and (4), where the member making the sale, transfer, assignment or disposal —
(a)has attained the age of 55 years at the time of the sale, transfer, assignment or disposal; 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, transfer, assignment or disposal; 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 in respect of the residential 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 445/2009 wef 01/10/2009]
(2C)  Notwithstanding paragraph (2B) but subject to paragraphs (3) and (4), where the member making the sale, transfer, assignment or disposal —
(a)has attained the age of 55 years at the time of the sale, transfer, assignment or disposal;
(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, transfer, assignment or disposal; 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 in respect of the residential 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 445/2009 wef 01/10/2009]
(3)  Notwithstanding paragraphs (2), (2A), (2B) and (2C) but subject to paragraph (4), where the member making the sale, transfer, assignment or disposal —
(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 in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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.
(3A)  Paragraphs (1), (2), (2A), (2B), (2C) and (3) do not apply to the reduction of the term of the lease of the residential property, being an HDB flat, pursuant to an agreement entered into between the member and the Housing and Development Board under the Lease Buyback Scheme.
[S 188/2009 wef 01/05/2009]
[S 445/2009 wef 01/10/2009]
(4)  Notwithstanding paragraphs (2), (2A), (2B), (2C) and (3), where the member transfers (other than by way of sale) his estate or interest in the residential 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) or (C) of the Act as may be applicable to the member or person.
(5)  In this regulation —
“net proceeds”, in relation to any residential 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 residential property, or, if the Board so elects, the value of the residential 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 outstanding under a housing loan for the purchase or acquisition of the residential property which is to be repaid in priority to the Fund pursuant to —
(A)an agreement between the Board, the member and the mortgagee; or
(B)if there is no such agreement, the most recent Memorandum of Mortgage filed by the Board with the Registrar of Titles under rule 8 of the Land Titles Rules (Cap. 157, R 1); and
[S 445/2009 wef 01/10/2009]
(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 residential property, any positive difference between —
(i)the amount payment of which was secured by the charge on the residential 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 of the member 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 residential 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 residential property to the member; and
(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.
[S 512/2007 wef 01/10/2007]
Prohibition on mortgage
27.—(1)  Where a member has withdrawn any moneys under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid), as long as any such moneys remain payable to the Fund, the member shall not mortgage or in any way encumber the residential property without the prior written permission of the Board.
[S 512/2007 wef 01/10/2007]
(2)  In granting any permission under paragraph (1), the Board may —
(a)require the member to make adequate arrangements to secure the payment to the member’s account in the Fund of —
(i)all moneys withdrawn by him in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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; and
(ii)where he is also required under section 27C(1)(iii) or 27E(1)(ii) of the Act to pay any moneys to the Fund upon the sale or disposal of the residential property, the relevant amount as defined in regulation 26(5); or
(b)impose such other terms and conditions as the Board may think fit.
[S 512/2007 wef 01/10/2007]
Repayment of moneys in certain circumstances
28.—(1)  Where —
(a)a member —
(i)has withdrawn any moneys under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid); or
(ii)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 residential property; and
(b)the residential property or any estate or interest therein —
(i)is sold, transferred, assigned or otherwise disposed of by any other person, including any mortgagee, with or without the consent of the Board; or
(ii)is compulsorily acquired under the Land Acquisition Act (Cap. 152) or any other written law,
the member shall pay to his account in the Fund the amount specified in the applicable paragraph of this regulation or such part thereof as the Board may determine, taking into consideration the circumstances of each case.
[S 445/2009 wef 01/10/2009]
(2)  Subject to paragraphs (2A), (4) and (5), where the member whose residential property or estate or interest therein has been sold, transferred, assigned or otherwise disposed of by any other person, or has been compulsorily acquired, is below the age of 55 years at the time of the sale, transfer, assignment, disposal or compulsory acquisition, 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, transfer, assignment, disposal or compulsory acquisition; 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)(i) applies to him, all moneys withdrawn by him under these Regulations in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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)(a)(ii) applies to him, the relevant amount.
[S 445/2009 wef 01/10/2009]
(2A)  Notwithstanding paragraph (2) but subject to paragraphs (4) and (5), where the member whose residential property or estate or interest therein has been sold, transferred, assigned or otherwise disposed of by any other person —
(a)is below the age of 55 years at the time of the sale, transfer, assignment or disposal; and
(b)sells, transfers, assigns or disposes of the residential property or his estate or interest therein to an immediate family member without consideration or for a consideration below the market value of the residential property or his estate or interest therein,
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)(i) applies to him, all moneys withdrawn by him under these Regulations in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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)(a)(ii) applies to him, the relevant amount.
[S 445/2009 wef 01/10/2009]
(2B)  Subject to paragraphs (2C), (4) and (5), where the member whose residential property or estate or interest therein has been sold, transferred, assigned or otherwise disposed of by any other person, or has been compulsorily acquired —
(a)has attained the age of 55 years at the time of the sale, transfer, assignment, disposal or compulsory acquisition; 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, transfer, assignment, disposal or compulsory acquisition; 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 in respect of the residential 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 445/2009 wef 01/10/2009]
(2C)  Notwithstanding paragraph (2B) but subject to paragraphs (4) and (5), where the member whose residential property or estate or interest therein has been sold, transferred, assigned or otherwise disposed of by any other person, or has been compulsorily acquired —
(a)has attained the age of 55 years at the time of the sale, transfer, assignment, disposal or compulsory acquisition;
(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, transfer, assignment, disposal or compulsory acquisition; 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 in respect of the residential 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 445/2009 wef 01/10/2009]
(3)  Subject to paragraphs (4) and (5), all moneys withdrawn by a member under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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, shall become due and payable to his account in the Fund in the event that —
(a)any mortgage or encumbrance is created over the residential property without the consent of the Board; or
(b)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.
(4)  Subject to paragraph (5), where a member —
(a)has withdrawn any moneys under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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 residential property,
then —
(i)on the death of the member; or
(ii)when the member is entitled to withdraw the amount standing to his credit in the Fund under section 15 (2), (3) or (4) of the Act and has complied with the requirements for such withdrawal,
such of the following amounts as may be applicable to the member or, if both amounts are applicable to him, the aggregate of both amounts, shall cease to be payable to his account in the Fund:
(A)if sub-paragraph (a) applies to him, all moneys withdrawn by him in respect of the residential property (other than any moneys lent to him under section 14A of the Act in respect of the residential 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;
(B)if sub-paragraph (b) applies to him, the relevant amount.
(5)   Notwithstanding paragraphs (2), (2A), (2B), (2C) and (3), where —
(a)any event referred to in paragraph (1)(b) or (3) occurs; and
(b)the member —
(i)withdraws the sum standing to his credit in the Fund under section 15 (2)(d), (e) or (f) of the Act; or
(ii)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,
the member 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:
(A)where paragraph (1)(a)(i) or (3) applies to him, all moneys withdrawn by him in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential 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;
(B)where paragraph (1)(a)(ii) applies to him, the relevant amount, or such part thereof as the Board may determine.
(6)  In this regulation —
“net proceeds”, in relation to any residential property which has been sold, transferred, assigned, disposed of or compulsorily acquired, means any positive difference between —
(a)such of the following as may be applicable:
(i)if the residential property has been sold, transferred, assigned or disposed of, the consideration for the sale, transfer, assignment or disposal of the residential property, or, if the Board so elects, the value of the residential property at the time of the sale, transfer, assignment or disposal as assessed by the Board; or
(ii)if the residential property has been compulsorily acquired, the amount of compensation paid upon the compulsory acquisition of the residential property; and
(b)the aggregate of the following amounts paid in the following order:
(i)any amount outstanding under a housing loan for the purchase or acquisition of the residential property which is to be repaid in priority to the Fund pursuant to —
(A)an agreement between the Board, the member and the mortgagee; or
(B)if there is no such agreement, the most recent Memorandum of Mortgage filed by the Board with the Registrar of Titles under rule 8 of the Land Titles Rules (Cap. 157, R 1); 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 residential property, any positive difference between —
(i)the amount payment of which was secured by the charge on the residential 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 of the member 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 residential 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 (5) (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 residential property to the member; and
(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.
[S 445/2009 wef 01/10/2009]
[S 512/2007 wef 01/10/2007]
No repayment of moneys in certain circumstances
28A.  Notwithstanding regulations 26 and 28, a member who has withdrawn any moneys under these Regulations in respect of a residential 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 residential property, shall not, on the sale, transfer, assignment or disposal of the residential property, or on the compulsory acquisition of the residential 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 residential 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 residential 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 residential 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 residential 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 residential 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 as defined in section 2(1) of the Act, but not being the residential 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 residential 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 residential 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 residential 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 as defined in section 2(1) of the Act, but not being the residential 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 445/2009 wef 01/10/2009]
Fees and charges
29.—(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.
Manner of application for withdrawal
30.—(1)  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.
(2)  Any member making such application shall furnish to the Board such information, documents and guarantees as the Board may require.
[S159/82; S64/87; S316/88; S478/92; S387/93; S482/95; S341/96; S24/97; S85/99; S563/99; S106/2001; S182/2005; S358/2005; S468/2005; S538/2005; S364/2006]