Singapore legislation

Clause 5

of Central Provident Fund (Amendment No. 2) Bill

Clause 5

Amendment of section 15

Section 15 of the principal Act is amended —

(a)

by deleting subsections (1A) to (1D) and substituting the following subsection:“(1A) The Board may give its authority under subsection (1) —

(a)

for the withdrawal of money standing to a member’s credit in the Fund, on the application of a person who —

(i)

is entitled or allowed to withdraw the money; or

(ii)

will be entitled to withdraw the money under subsection (2)(a), (3) or (7) within such period as the Board may determine; or

(b)

without any application mentioned in paragraph (a), for the withdrawal of —

(i)

the whole or part of an amount referred to in subsection (6C)(a) that a member is entitled to withdraw under subsection (7);

(ii)

the whole or part of any money that the Board may allow the member to withdraw under subsection (4)(b);

(iii)

the amount standing to the credit of a deceased member in the Fund that a person nominated by the deceased member in accordance with section 25(1) is entitled to withdraw under subsection (5); or

(iv)

such other amounts standing to the credit of a member in the Fund for payment to the member as may be prescribed by regulations made under section 77(1).”;

(b)

by deleting the words “sections 19 and 19A” in subsection (2) and substituting the words “sections 16, 19 and 19A”;

(c)

by inserting the word “and” at the end of subsection (2A)(a)(ii);

(d)

by deleting paragraph (b) of subsection (2A);

(e)

by inserting, immediately after the words “subsection (6)” in subsections (3) and (4), the words “and section 16”;

(f)

by deleting the words “subsection (2)(a), (3) or (4)” in subsections (6) and (8A) and substituting in each case the words “subsection (2)(a) or (3), or is allowed under subsection (4),”;

(g)

by deleting the words “minimum sum” wherever they appear in subsections (6)(a), (6A), (6CA), (9), (9A), (10), (10A), (11) and (11A) and substituting in each case the words “retirement sum”;

(h)

by inserting the word “and” at the end of subsection (6)(a)(ii);

(i)

by deleting paragraph (b) of subsection (6);

(j)

by deleting subsection (6D);

(k)

by inserting the word “and” at the end of subsection (7B)(a)(ii);

(l)

by deleting paragraph (b) of subsection (7B);

(m)

by inserting the word “and” at the end of subsection (8A)(a)(ii); and

(n)

by deleting paragraph (b) of subsection (8A).

Read in full context — Central Provident Fund (Amendment No. 2) Bill →