Singapore legislation

Clause 9

of Central Provident Fund (Amendment) Bill

Clause 9

Repeal and re-enactment of section 18A

Section 18A of the principal Act is repealed and the following section substituted therefor:“Transfer of member’s moneys in ordinary account or special account to retirement account18A.—

(1)

The Board may, subject to such terms and conditions as it may impose, permit a member who has less than the prescribed amount standing to his credit in his retirement account to transfer a sum standing to his credit in his ordinary account or special account, or in both accounts, to his retirement account, being a sum not exceeding the difference between —

(a)

the prescribed amount; and

(b)

the sum standing to his credit in his retirement account.(2) In this section, “prescribed amount” means such sum as may for the time being be specified by the Minister by notification in the Gazette under section 18B(3)(b).”.

Read in full context — Central Provident Fund (Amendment) Bill →