Singapore legislation

Section 15A

of Central Provident Fund Act 1953

Section 15A

Restrictions on withdrawals to ensure repayment of approved loan

Despite anything in section 15, a member of the Fund is not entitled to withdraw from the Fund any sum standing to the member’s credit under section 15(2)(b), (c), (d), (e), (f) or (g) unless the Board is satisfied that all moneys lent to the member pursuant to any approved loan scheme within the meaning of section 14A and which have been paid into the Fund under section 14A(2) for the benefit of the member, together with any interest and other charges which the member is liable to pay to the Government under the terms and conditions of the loan, have been repaid to the Government.