“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
[S 703/2007 wef 01/01/2008]
(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;
[S 703/2007 wef 01/01/2008]
“insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore;
“Lease Buyback Scheme” means a scheme 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 —
(a)
which is to be paid in accordance with the terms and conditions of the scheme; and
(b)
the whole or part of which may be used for the payment of a premium for an annuity plan under the Lifelong Income Scheme established and maintained by the Board under section 27K of the Act;
[S 479/2013 wef 01/08/2013]
“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, and includes any land adjacent to any such house or flat that the Housing and Development Board has approved for purchase or acquisition as part of the house or flat;
[S 691/2012 wef 01/01/2013]
“Town Council” means a Town Council established under the Town Councils Act (Cap. 329A).