Central Provident Fund Act 1953 · 2020 Revised Edition · Part 3 · Withdrawal of Contributions
21D. Deemed undertaking by subsequent owner of immovable property with relevant undertaking
Feedback & supportLast amended by an amending law of 2024.
Subject to regulations made under section 77(1), every person, on becoming a joint tenant or a tenant-in-common of an immovable property (whether before, on or after the date of commencement of section 29 of the Central Provident Fund (Amendment) Act 2024) in respect of which there is a relevant undertaking for a refund or payment, is deemed to have given an undertaking for the refund or payment to be made from the proceeds of the disposal of the immovable property in the event that the immovable property is subsequently disposed of.
immovable property
“immovable property” includes —(a)any estate or interest in land comprising a building or flat which is erected or to be erected on the land;(b)any undivided share in any estate or interest in land comprising several flats erected or to be erected thereon;
The applicable provisions apply to the deemed undertaking under subsection (1), as they would have applied to the relevant undertaking, with the modifications (if any) prescribed by regulations made under section 77(1).
relevant undertaking
“relevant undertaking” means any of the following undertakings given before, on or after the date of commencement of section 29 of the Central Provident Fund (Amendment) Act 2024:(a)an undertaking by a member under section 15AB(3) or (4), or section 15(10) or (10A) of the Act as in force before 1 March 2022, to refund to the Board an amount equal to the member’s retirement sum or part thereof which is required to be set aside;(b)an undertaking by a member’s spouse under section 27D(1)(j)(i) to pay to the Board an amount referred to in section 27D(1)(h) to be credited to one or more designated accounts maintained, or to be maintained, for the member’s spouse;(c)an undertaking deemed to be given under section 21C(2), where the relevant undertaking referred to in that provision is an undertaking mentioned in paragraph (a), (b) or (d) or this paragraph, to pay to the Board the amount mentioned in paragraph (a) or (b) (as the case may be) applicable to that relevant undertaking;(d)an undertaking deemed to be given under section 21D(1), where the relevant undertaking referred to in that provision is an undertaking mentioned in paragraph (a), (b) or (c), to pay to the Board the amount mentioned in paragraph (a) or (b) (as the case may be) applicable to that relevant undertaking;
Where, before the date of commencement of section 29 of the Central Provident Fund (Amendment) Act 2024 —
a refund or payment under a relevant undertaking in respect of an immovable property was made from any person’s share of the proceeds of the disposal of the immovable property; and
that refund or payment would have been valid if this section had been in force when the person mentioned in paragraph (a) acquired his or her interest or estate in the immovable property,then the following apply:
the refund or payment is taken to be and always to have been validly made;
no legal proceedings lie, or may be instituted or maintained, in any court of law on account of or in respect of such refund or payment.
To avoid doubt, where the relevant undertaking is an undertaking mentioned in paragraph (c) or (d) of the definition of “relevant undertaking” in section 21E(1), references in this section to immovable property refer to the replacement property the proceeds of disposal from which the corresponding payment is undertaken to be paid under the relevant undertaking.
replacement property
“replacement property” means immovable property which —(a)includes the whole or part of an original property; and(b)is acquired by a relevant owner as a result of a relevant transaction;