Singapore legislation

Clause 29

of Central Provident Fund (Amendment) Bill

Clause 29

Amendment of section 39

Section 39 of the principal Act is amended —

(a)

by deleting paragraph (ca) and substituting the following paragraph:“(ca)prescribe the insured sum in respect of each class of Scheme members;”;

(b)

by deleting paragraph (ea); and

(c)

by deleting paragraph (f) and substituting the following paragraph:“(f)provide for the refund of any premium (and the whole or such part, as the Board may determine, of any interest that would have been payable on the amount of the premium if that amount had been standing to a person’s credit in the person’s account in the Fund), the manner in which the premium and interest are to be refunded and the circumstances in which the refund is to be made and at such rates as may be prescribed by the Minister;”.