Singapore legislation

Clause 2

of Central Provident Fund (Amendment) Bill

Clause 2

Amendment of section 2

Section 2(1) of the Central Provident Fund Act (called in this Act the principal Act) is amended —

(a)

by inserting, immediately after the definition of “additional interest”, the following definitions:“ “approved annuity” means an annuity approved by the Board for the purposes of section 15(6C)(b) or the former section 15(6C)(b);“approved bank” means a bank approved by the Board for the purposes of section 15(6C)(a) or the former section 15(6C)(b);”; and

(b)

by inserting, immediately after the definition of “ordinary account”, the following definition:“ “payout benchmark applicable to the member” means the payout benchmark specified by the Minister in relation to the member under section 15(8CA)(a) or (c);”.

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