Central Provident Fund Act 1953 · 2020 Revised Edition · Part 3 · Withdrawal of Contributions
27. Withdrawals by undischarged bankrupts
Feedback & supportLast amended by an amending law of 2021. 2 amendments in all.
Subject to this section or any regulations made under this Act, a member who is an undischarged bankrupt is not entitled to make withdrawals from the amount standing to the member’s credit in 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;
The Board may, in its discretion but only after the Board is satisfied that all repayments of any loan given to the member by the Government under an approved loan scheme within the meaning of section 14A, together with all interest and other charges which the member is liable to pay to the Government under the terms and conditions of that loan, have been paid, allow a member who is an undischarged bankrupt to withdraw from the amount standing to his or her credit in the Fund if —
Board
“Board” means the Central Provident Fund Board constituted under section 3;
the member satisfies any of the grounds for withdrawals specified in section 15(2) or 15AA(1); and
the member satisfies such conditions as may be specified by the Minister from time to time.
[Deleted by Act 36 of 2023 wef 01/04/2024]
Where withdrawals are made by a member who is an undischarged bankrupt under subsection (2), the Board may impose such condition (including condition as to the amounts that may be withdrawn by the undischarged bankrupt) as it may think fit.
[Deleted by Act 31 of 2003]
All applications for withdrawals under this section must be in such form, and must be supported by such evidence, as the Board may reasonably require.