Singapore legislation

Clause 5

of Central Provident Fund (Amendment) Bill

Clause 5

Repeal and re-enactment of section 13B

Section 13B of the principal Act is repealed and the following section substituted therefor:“Voluntary contributions13B.—

(1)

Notwithstanding anything in this Act but subject to any regulations made under section 77(1) —

(a)

any person may —

(i)

if he is a citizen or permanent resident of Singapore in respect of whom no contribution is required to be paid under this Act, contribute voluntarily to the Fund in such manner and at such rate as the Minister may direct; or

(ii)

on or after 1st January 2011, voluntarily pay to the Fund contributions for any other person (being a citizen or permanent resident of Singapore in respect of whom no contribution is required to be paid under this Act) in such manner and at such rate as the Minister may direct;

(b)

the Board shall credit every contribution received under paragraph (a)(i) or (ii) into an ordinary account, a medisave account or a special account, for the purposes specified in section 13(1), in such manner as the Minister may direct; and

(c)

the Minister may give different directions in respect of different classes of members.(2) Notwithstanding anything in this Act but subject to any regulations made under section 77(1) —

(a)

any person may, on or after 1st January 2011, voluntarily pay to the Fund contributions for any other person (being a citizen or permanent resident of Singapore in respect of whom any contribution is required to be paid under this Act, but no contribution is required to be paid under this Act by the first-mentioned person) in such manner and at such rate as the Minister may direct;

(b)

the Board shall credit every contribution received under paragraph (a) into an ordinary account, a medisave account or a special account, for the purposes specified in section 13(1), in such manner as the Minister may direct; and

(c)

the Minister may give different directions in respect of different classes of members.(3) The aggregate of the following amounts which may be contributed by or for a person shall not, in any year, exceed such sum as the Minister may prescribe by regulations made under section 77(1):

(a)

the amount which that person may contribute voluntarily in that year under subsection (1)(a)(i);

(b)

the amount which may be contributed for that person in that year under subsection (1)(a)(ii) or (2)(a); and

(c)

such other amounts which may be contributed by or for that person in that year as the Minister may prescribe by regulations made under section 77(1).(4) Every amount voluntarily paid to the Fund on or after 1st January 2011, but before the date of commencement of section 5 of the Central Provident Fund (Amendment) Act 2011, by a person as a contribution for any other person (being a citizen or permanent resident of Singapore in respect of whom no contribution is required to be paid under this Act, or being a citizen or permanent resident of Singapore in respect of whom any contribution is required to be paid under this Act, but no contribution is required to be paid under this Act by the first-mentioned person) shall be deemed to be and always to have been validly paid, and no legal proceedings shall lie or be instituted or maintained in any court of law on account of or in respect of any such payment.”.

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