Singapore legislation

Clause 11

of Central Provident Fund (Amendment) Bill

Clause 11

Repeal and re-enactment of section 49 and new sections 49A, 49B and 49C

Section 49 of the principal Act is repealed and the following sections substituted therefor:“Amount payable on death or incapacity of insured person49.—

(1)

Where an insured person dies at any time during the period he is insured under the Scheme, the insured sum shall, upon proof of death, be paid by the Board or an appointed insurer, as the case may be, in accordance with the prescribed requirements.(2) Where there is a claim made under the Scheme by an insured person on the ground of incapacity at any time during the period he is insured under the Scheme, the insured sum shall, upon proof of incapacity, be paid to him by the Board or an appointed insurer, as the case may be, in accordance with the prescribed requirements.Transfer of Board’s liabilities under Scheme 49A.—

(1)

The Minister may make regulations to transfer the whole or any part of the Board’s liabilities under the Scheme (including the insurance covers issued under the Scheme that give rise to such liabilities) to one or more appointed insurers.(2) Without prejudice to the generality of subsection (1), regulations made under that subsection may —

(a)

prescribe the cases in which or the circumstances under which the Board shall continue to be liable to pay the insured sum in respect of insured persons whose insurance covers under the Scheme have been transferred to an appointed insurer;

(b)

provide for such consequential, saving and transitional provisions as are necessary to facilitate the transfer of the Board’s liabilities under the Scheme;

(c)

prescribe the necessary modifications to be made to any other provision of this Act in order to bring such provision into conformity with the transfer of the Board’s liabilities under the Scheme; and

(d)

provide for such other matters as the Minister thinks necessary or expedient for the transfer of the Board’s liabilities under the Scheme.(3) The Board may require any appointed insurer to transfer to another appointed insurer, in such manner and on such terms and conditions as the Board thinks fit, those liabilities of the Board under the Scheme that have been transferred to the first-mentioned appointed insurer under this section.(4) The transfer of any liability under the Scheme —

(a)

by the Board to an appointed insurer under subsection (1); or

(b)

by one appointed insurer to another appointed insurer pursuant to the requirement of the Board under subsection (3),may be made, and shall be valid and effectual, notwithstanding anything to the contrary in any written law or rule of law or the absence of any agreement or consent which would otherwise be necessary.(5) If any question arises as to whether any particular liability of the Board under the Scheme has been transferred to an appointed insurer under this section, a certificate under the hand of the Minister shall be conclusive evidence that the liability was or was not so transferred.(6) An appointed insurer to whom the whole or any part of the Board’s liabilities under the Scheme have been transferred under this section shall provide insurance cover to every transferred insured person in accordance with such requirements as may be specified by the Board, including requirements relating to —

(a)

the minimum benefits and rights that the appointed insurer must confer upon the person; and

(b)

the terms and conditions subject to which the appointed insurer may issue insurance cover to the person.Application of moneys in dissolved Dependants’ Protection Insurance Fund49B. Upon the dissolution of the Dependants’ Protection Insurance Fund (referred to in this section as the dissolved Fund), the Board may —

(a)

subject to such terms or conditions as it thinks fit to impose, pay such part of the moneys of the dissolved Fund as the Board may determine to each of the appointed insurers to which the Board’s liabilities under the Scheme has been transferred under section 49A; and

(b)

retain such part of the moneys of the dissolved Fund as it thinks necessary for meeting any of its own liabilities under the Scheme that may have arisen prior to the transfer.Disclosure of information49C.—

(1)

The Board may, from time to time, give to an appointed insurer to which its liabilities under the Scheme has been transferred under section 49A such information (including medical information) as is in the Board’s possession that —

(a)

relates to any member; and

(b)

is required by the appointed insurer in order that the appointed insurer may properly fulfill its obligations in relation to that member under the Scheme.(2) An appointed insurer shall not use any information given to it by the Board under subsection (1) except for such purposes as may be approved by the Board.(3) For the purposes of ensuring that the provisions of this Part are being complied with, the Board may require an appointed insurer or any member to furnish to the Board such documents or information as the Board thinks necessary.”.