Clause 8

by deleting the words “or (11E)” in subsections (4)(b) and (11F) and substituting in each case the words “, (11E) or (11EB)”;

by inserting, immediately after “27DA(1)(v),” in subsection (4)(b), “27DB(2)(e),”; and

by inserting, immediately after subsection (11E), the following subsections:“(11EA) Subject to any regulations made under section 77(1), the Board may, on an application made on or after the date of commencement of section 8 of the Central Provident Fund (Amendment) Act 2019, permit the member to use any immovable property (owned by the member, or by the member and one or more persons jointly) to secure the whole or part of the retirement sum applicable to the member.(11EB) Where the Board approves the member’s application under subsection (11EA), a charge is constituted on the immovable property mentioned in subsection (11EA) to secure the payment to the Board of an amount determined by the Board, not exceeding the amount of the retirement sum applicable to the member.”.