Clause 42

by deleting subsections (1A), (2) and (3) and substituting the following subsections:“(1A) The Board may, in the circumstances approved by the Minister, credit the amount of a specified payment to be paid to a person into such account of that person in the Fund as the Minister may direct, instead of paying the specified payment directly to the person.(2) A cash grant or specified payment credited into a member’s account in the Fund under subsection (1) or (1A) (as the case may be) is deemed to be a contribution to the member for the purposes of this Act.(2A) Any cash grant or specified payment credited into a member’s account in the Fund under subsection (1) or (1A) or interest thereon may be withdrawn by the member under this Act for the purposes of the cash grant or specified payment (as the case may be) and in such manner as the Board may determine.(3) Subject to any limitations prescribed by regulations made under section 77(1), in the circumstances mentioned in subsection (3AA), the Board is entitled to recover on behalf of the Government the following amounts from any moneys standing to the credit of any person in the Fund:

the whole or part of the amount of any cash grant or specified payment credited into the Fund under subsection (1) or (1A) (as the case may be) for the benefit of the person;

any interest which the person is liable to pay to the Government under the terms of any cash grant or specified payment mentioned in paragraph (a).(3AA) The following circumstances are specified for the purposes of subsection (3):

before, on or after the date of commencement of section 42 of the Central Provident Fund (Amendment) Act 2021, the person mentioned in subsection (3) —

has obtained the cash grant or specified payment mentioned in that subsection, by means of any false or misleading statement or any document that is false or misleading in any particular;

has committed a breach of any of the terms and conditions of the cash grant or specified payment mentioned in that subsection; or

is eligible to receive another cash grant or specified payment, or a cash grant or specified payment of a different amount, in place of the cash grant or specified payment to be recovered;

the person mentioned in subsection (3) no longer satisfies a continuing condition (if any) of the cash grant or specified payment mentioned in that subsection.”;

by deleting the word “payment” wherever it appears in subsection (3A) and substituting in each case the words “specified payment”;

by deleting the full‑stop at the end of the definition of “cash grant” in subsection (5) and substituting a semi‑colon, and by inserting immediately thereafter the following definitions:“ “continuing condition”, in relation to a cash grant or specified payment, means a condition that —

a person must continue to satisfy after the cash grant or specified payment is credited into the account of the person in the Fund; and

on or before the crediting of that cash grant or specified payment into the account of the member in the Fund, has been —

made known to the person; or

publicised in a prescribed manner (which may include publication on a website);“specified payment” means any payment to be made by the Board to a person pursuant to —

any activity engaged in by the Board under section 76(1)(a) whether before, on or after the date of commencement of section 42 of the Central Provident Fund (Amendment) Act 2021; or

any written law other than this Act.”; and

by deleting the section heading and substituting the following section heading:“Crediting of cash grant or specified payment to Fund”.