In forceAmended2020 Revised Edition

Contents

Central Provident Fund Act 1953 · 2020 Revised Edition · Part 2 · Contributions to Fund

10. Expenses, etc.

Amended

Last amended by an amending law of 2019. 4 amendments in all.

(1)

All expenses incurred by the Board including the cost of auditing the accounts of the Fund are to be defrayed out of the moneys of the Fund.

(2)

Despite anything in this Act or the MediShield Life Scheme Act 2015, no money in the Fund is to be used to make any payment for the purposes of the MediShield Life Scheme Act 2015 or any costs or expenses incurred in the administration of the MediShield Life Scheme, except for —

(a)

withdrawals or deductions from a member’s medisave account made in accordance with this Act or the MediShield Life Scheme Act 2015; or

(b)

any payment made by the Board, as a defaulter’s agent under section 12 or 13 of the MediShield Life Scheme Act 2015, from moneys payable from the Fund.

(2A)

Despite anything in this Act or the CareShield Life and Long‑Term Care Act 2019, no money in the Fund is to be used to make any payment for the purposes of the CareShield Life and Long‑Term Care Act 2019 or any costs or expenses incurred in the administration of the CareShield Life Scheme or ElderShield Scheme, except for —

(a)

withdrawals or deductions from a member’s medisave account made in accordance with this Act or the CareShield Life and Long‑Term Care Act 2019; or

(b)

any payment made by the Board, as a defaulter’s agent under section 24 or 25 of the CareShield Life and Long‑Term Care Act 2019, from moneys payable from the Fund.

(3)

Despite anything in this Act, no money in the Fund is to be used to make any payment for the purposes of Part 3B or 4 or any costs or expenses incurred in the administration of the Lifelong Income Scheme or the Home Protection Insurance Scheme, except for withdrawals or deductions from any of a member’s accounts in the Fund made in accordance with this Act.