Clause 14

by deleting the word “Where” in the 1st line of subsection (2) and substituting the words “Subject to subsections (3), (3A) and (3B), where”;

by deleting subsections (2A) and (3) and substituting the following subsections:“(3) For the avoidance of doubt, where the housing loan is taken from a Housing Authority or an approved mortgagee by 2 or more members of the Scheme in respect of property purchased jointly by the members, the monthly or other periodic loan instalments payable by the Board under subsection (2) on account of the incapacity of a member shall be in proportion to that member’s liability for the repayment of the housing loan as declared by that member to, and accepted by, the Board.(3A) The Board shall cease payment to the Housing Authority or the approved mortgagee under subsection (2) if the member of the Scheme is no longer incapacitated.(3B) Where the Board ceases payment to the Housing Authority or the approved mortgagee under subsection (3A), the member of the Scheme shall remain insured under the Scheme for such an amount as is prescribed under regulations made under this Part less any amount that the Board has paid under subsection (2).(3C) Notwithstanding subsection (2), if the incapacity of the member of the Scheme is in the opinion of the Board likely to continue for more than 2 years, the Board shall pay the Housing Authority or the approved mortgagee such an amount as is determined in accordance with the formula —(A + B) − C,where Ais the amount prescribed under regulations made under this Part to be payable at the time of incapacity of the member;Bis the amount of interest accrued on A as determined by the Board from the time the first monthly or periodic loan instalment is made under subsection (2) to the time the amount under this subsection is paid by the Board;Cis the total amount paid by the Board to the Housing Authority or the approved mortgagee under subsection (2).(3D) Where a claim under the Scheme is made in respect of the incapacity of a member of the Scheme, the Board may backdate any payment to be made by the Board to the Housing Authority or the approved mortgagee under this section to the date on which the incapacity occurred.”; and

by deleting paragraph (a) of subsection (5) and substituting the following paragraphs:“(a)if the death or incapacity of the member —

in the case of a member who was insured under the Scheme before the date of commencement of the Central Provident Fund (Amendment) Act 2000, occurs within one year from the date he is insured under the Scheme and the death is the result of suicide or the incapacity is the result of deliberate self-injury; or

in the case of a member who was insured under the Scheme on or after the date of commencement of the Central Provident Fund (Amendment) Act 2000, is the result of suicide or deliberate self-injury committed within one year from the date that he is insured under the Scheme;