Central Provident Fund Act 1953 · 2020 Revised Edition · Part 3 · Withdrawal of Contributions
26B. Withdrawal from investment schemes
Feedback & supportLast amended by an amending law of 2023.
This section applies where —
a member has —
a CPF Investment Account; or
any securities purchased or acquired under an investment scheme introduced under Part II or III of the Investment Regulations; and
the Board is satisfied that the member is not an applicable person.
The Board may, on its own motion, declare that —
Board
“Board” means the Central Provident Fund Board constituted under section 3;
the member is authorised to withdraw all moneys standing to the member’s credit in the member’s CPF Investment Account, if any; and (b)all of the member’s securities mentioned in subsection (1)(a)(ii) (if any) are withdrawn from those investment schemes.
The member is not obliged to repay to the Fund —
member
“member of the Fund” or “member” means any person to whose credit any amount is standing in the Fund, or for whom any account in the Fund is maintained for any of the purposes of this Act;
any moneys withdrawn from the member’s CPF Investment Account pursuant to the Board’s declaration under subsection (2); or
any proceeds or benefits of any securities withdrawn pursuant to the Board’s declaration under subsection (2).
In this section —
“CPF Investment Account” has the meaning given by the Investment Regulations;
“Investment Regulations” means the Central Provident Fund (Investment Schemes) Regulations (Rg 9).