Singapore legislation

Clause 5

of Central Provident Fund (Amendment) Bill

Clause 5

Amendment of section 45

Subsection (1) of section 45 of the principal Act is amended —

(a)

by deleting paragraph (g) and substituting the following paragraph:“(g)to provide for members of the Fund to apply, assign or withdraw all or part of the contributions and interest standing to their credit in the Fund for the purchase of residential properties or to repay any loan taken to finance or re-finance the purchase of residential properties including the payment of costs, fees or other incidental expenses incurred for the purchase of a residential property or for obtaining any loan to finance or re-finance such purchase or in connection with withdrawals of any money from the Fund;”;

(b)

by deleting the word “and” at the end of paragraph (i); and

(c)

by deleting the full-stop at the end of paragraph (j) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(k)for the purposes of sections 40A and 40B.”.