Singapore legislation
Clause 11
Clause 11
Amendment of section 29
Section 29 of the principal Act is amended by deleting subsection (1) and substituting the following subsection:“(1) The Board is hereby authorised to establish and maintain a Home Protection Insurance Scheme for the purpose of providing that on the death or incapacity of a member of the Scheme at any time during the period in which the member is insured under the Scheme —
his liability to repay his housing loan to a Housing Authority or an approved mortgagee secured by a mortgage of the immovable property to that Authority or approved mortgagee (as the case may be) shall be discharged by the Board in accordance with the Scheme; or
if that liability has been discharged, such person or persons whom the Board is satisfied have discharged that liability shall be reimbursed by the Board in such manner as may be prescribed by regulations made under this Part.”.