Singapore legislation

Section 17

of Central Provident Fund Act 1953

Section 17

Withdrawal from special account for loan, etc.

Amended by6/2016

The Board may allow a member to withdraw the whole or part of the moneys standing to the member’s credit in his or her special account for all or any of the following purposes:

(a)

for the payment of any loan taken by the member for the purchase of any immovable property by the member in accordance with any regulations made under section 77(1);

(b)

for the payment of —

(i)

any improvement contribution due to the Housing and Development Board in respect of upgrading works carried out under Part 4A of the Housing and Development Act 1959 or to a Town Council in respect of lift upgrading works carried out under Part 4A of the Town Councils Act 1988;

(ii)

any interest imposed by the Housing and Development Board or the Town Council (as the case may be) on the improvement contribution referred to in sub‑paragraph (i), where the improvement contribution is paid in instalments; and

(iii)

any costs, fees or other incidental expenses arising from such works;

(c)

for such other purposes as permitted under, and in accordance with, this Act.

Read in full context — Central Provident Fund Act 1953 →