Singapore legislation

Clause 4

of Central Provident Fund (Amendment) Bill

Clause 4

Amendment of section 13B

Section 13B of the principal Act is amended —

(a)

by inserting, immediately after the word “person” in paragraph (a), the words “who is a citizen or permanent resident of Singapore”; and

(b)

by renumbering the section as subsection (1) of that section, and by inserting immediately thereafter the following subsections:“(2) The amount which a person may contribute voluntarily under subsection (1) or section 7(4) shall not exceed the sum of $28,800 in any year or such other sum as the Minister may, from time to time, prescribe by notification in the Gazette.(3) For the purpose of computing the sum referred to in subsection (2) in any year, the amount contributed by the person which is obligatory under this Act and any voluntary contribution paid by his employer under section 7(4)(c) in that year shall be included, and any contribution made in that year under sections 73 and 79 shall not be included.”.

Clause 4 — Central Provident Fund (Amendment) Bill | laws.sg