Singapore legislation

Clause 14

of Central Provident Fund (Amendment) Bill

Clause 14

Amendment of section 77

Section 77 of the principal Act is amended —

(a)

by inserting, immediately after paragraph (k) of subsection (1), the following paragraph:“(ka)to provide for the transfer of money from the medisave account of a member to his ordinary account, special account and retirement account (if any);”;

(b)

by deleting the words “investing in such precious metals, insurance policies (including investment-linked insurance policies) and securities, and depositing in such fixed deposit accounts,” in subsection (1)(n) and substituting the words “making such investments”; and

(c)

by deleting the words “is physically or mentally incapacitated” in subsection (2)(c) and substituting the words “satisfies any ground under section 15(2)(d), (e), (f) or (g), (6B), (7A)(a), (b), (ba) or (c), (8)(a), (b), (c) or (d) or (15)(e)(ii), 36(2) or 49(2)”.