Use of money in special account for payment of improvement contribution in respect of upgrading works
8.—(1)  This regulation applies in respect of a member where the member is liable, as owner of a residential property, to pay the monthly improvement contributions due —
(a)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
(b)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).
[S 237/2015 wef 24/04/2015]
(1A)  Where this regulation applies in respect of a member, the Board may authorise to be withdrawn from the moneys standing to the member’s credit in the member’s special account an amount not exceeding one of the following to pay the monthly improvement contributions referred to in paragraph (1):
(a)the balance remaining of moneys transferred from the member’s medisave account under section 13(6) of the Act to the member’s special account;
(b)if the Minister approves the withdrawal, the total amount of moneys standing to the member’s credit in the member’s special account from time to time.
[S 237/2015 wef 24/04/2015]
(1B)  The Board may authorise either or both of the amounts under paragraph (1A)(a) and (b) to be withdrawn —
(a)on the application of the member or if the Board considers it necessary; and
(b)subject to such terms and conditions as the Board may impose.
[S 237/2015 wef 24/04/2015]
(2)  All moneys withdrawn from the Fund under paragraph (1A) shall be paid by the Board —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.
[S 237/2015 wef 24/04/2015]
(3)  Subject to regulation 7(4), the amounts that a member may withdraw under paragraph (1A)(a) or (b) are to be determined by the Board.
[S 237/2015 wef 24/04/2015]