Central Provident Fund Act 1953 · 2020 Revised Edition · Part 3 · Withdrawal of Contributions
26A. Transfer or payment of deceased designated shareholder’s moneys
Feedback & supportLast amended by an amending law of 2021.
Where the Board is notified that a designated shareholder has died on or after 1 January 1996 and the designated shareholder has executed a memorandum under section 25(1), the Board must transfer or pay (as the case may be) the following amounts (if any) in accordance with sections 20(1)(b) and (1A) and 25:
Board
“Board” means the Central Provident Fund Board constituted under section 3;
designated shares payments that have been credited to the general moneys of the Fund to the credit of a deceased designated shareholder under section 26(7)(a) or (b) or section 26, 26A, 26B or 26D as in force immediately before the commencement date;
moneys transferred or paid to a nominee account of a deceased designated shareholder under section 26(9).
Where a designated shareholder died before 1 January 1996 or has not executed a memorandum under section 25(1), the Board must pay the amounts mentioned in subsection (1)(a) —
to the personal representatives of the deceased designated shareholder; or (b)if to the best of the Board’s knowledge the deceased designated shareholder does not have any personal representatives, and if the proceeds of the sale of the shares do not exceed such amount as the Minister may specify — to a proper claimant.
The transfer or payment under subsection (1) or (2) may be made subject to any terms and conditions imposed by the Board.
The Board is discharged, in respect of any designated shares payment, by the receipt of a person to whom the designated shares payment is payable under subsection (1) or (2), for the designated shares payment.
Where any designated shares payment has been paid to a proper claimant under subsection (2), this section does not affect any recourse that any person may have against the proper claimant for that amount.
This section applies despite any other written law or rule of law, except regulations made for the purposes of this section under section 77(1) or as expressly provided to the contrary in this section.
In this section —
“child” means a legitimate child and includes any child adopted by virtue of an order of court under any written law for the time being in force in Singapore, Malaysia or Brunei Darussalam;
order of court
“order of court” means —(a)an order made under section 112 of the Women’s Charter 1961 in proceedings for divorce, judicial separation or nullity of marriage under Part 10 of the Women’s Charter 1961; (b)an order made under section 52(3)(d), (7) or (9) of the Administration of Muslim Law Act 1966 in proceedings for divorce or nullity of marriage under Part 3 of that Act; or(c)an order made under section 121G of the Women’s Charter 1961, being an order which the court could have made under section 112 of the Women’s Charter 1961;
“commencement date” means the date of commencement of section 29 of the Central Provident Fund (Amendment) Act 2021;
“parent” includes an adoptive parent;
“proper claimant”, in relation to any designated shares payment, means a person who —
claims to be entitled to the designated shares payment as executor of a deceased designated shareholder; or
claims to be entitled to the designated shares payment (whether for his or her own benefit or not) and is the widower, widow, child, grandchild, parent, brother, sister, nephew, niece, grandparent, uncle or aunt of the deceased designated shareholder.