Singapore legislation

Clause 24

of Central Provident Fund (Amendment) Bill

Clause 24

Amendment of section 77

(1)

Section 77(1) of the principal Act is amended —

(a)

by inserting, immediately after paragraph (ga), the following paragraph:“(gaa)for the purposes of sections 15 and 15AA, including —

(i)

to provide that a physical or mental condition is a significant condition for the purposes of section 15AA only if it is approved by the Minister and causes disability of a description or to an extent specified by the Minister; and

(ii)

requirements and limits applicable to payments or transfers under section 15(7A);”;

(b)

by inserting, immediately after the words “sections 15,” in paragraph (o), “15AA, 15AB,”;

(c)

by deleting sub‑paragraph (ii) of paragraph (o) and substituting the following sub‑paragraph:“(ii)prescribe the method of computing the retirement sum, and provide for —

(A)

certain amounts standing to the credit of a member in the member’s retirement account to be disregarded; or

(B)

certain amounts standing to the credit of a member in the Fund or authorised for withdrawal under section 15(1A)(b) to be included,when determining whether the member has set aside the retirement sum;”;

(d)

by deleting the words “15(9), (9A), (10), (10A), (11D), (11E) or (11EB)” in paragraph (o)(v) and substituting the words “15AB(1), (2), (3), (4), (10), (11) or (13)”; and

(e)

by deleting “15(8)(e)” in paragraph (o)(vii)(A) and substituting “15AA(3)(b)”.

(2)

Section 77(2) of the principal Act is amended —

(a)

by deleting the words “section 15(2)(d), (e), (f) or (g), (6B)(a), (7A)(a), (b), (c) or (d), (8)(a), (b), (c) or (d)” in paragraph (c) and substituting the words “section 15(6B)(a), 15AA(1), (2)(a) or (3)(a)”; and

(b)

by deleting the words “section 15” in paragraph (e) and substituting the words “sections 15, 15AA and 15AB”.