Central Provident Fund Act 1953 · 2020 Revised Edition · Part 3A · Division of Fund-Related Assets in Matrimonial Proceedings
27H. Order of court for sale of investments
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a member of the Fund has made any investment under any scheme in accordance with any regulations made under section 77(1)(n) (called in this section the relevant regulations); and
member of the Fund
“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;
an order of court is made requiring the sale of the member’s interest in the investment,then, subject to any regulations made under section 77(1), the following provisions apply:
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;
the obligation to effect the sale of the member’s interest in the investment lies with the member and not the Board;
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;
upon the sale of the member’s interest in the investment, the proceeds from the sale must be dealt with in accordance with the relevant regulations; (e)if, under any order of court, the member’s spouse is awarded the proceeds from the sale of the member’s interest in the investment or any part thereof, or any other amount to be paid out from the money standing to the credit of the member in the Fund after the proceeds have been repaid to the Fund to the credit of the member —
relevant regulations
“relevant regulations” means any regulations made under section 27Q;
section 27B applies to the proceeds or part thereof or other amount, and the proceeds or part thereof or other amount is regarded as money repayable to the Fund to the credit of the member for the purposes of section 27B(1) and (5);
where under the relevant regulations the proceeds are not immediately repayable to the Fund to the credit of the member, the obligation to initiate the repayment of the proceeds or part thereof to the Fund to the credit of the member lies with the member and not the Board;
Board
“Board” means the Central Provident Fund Board constituted under section 3;
when the proceeds or part thereof have been repaid to the Fund, the member must notify the Board of the repayment for the purposes of section 27B(5); and
the Board is under no obligation to ascertain whether, or to ensure that —
the member has complied with the order of court requiring the sale of the member’s interest in the investment;
the proceeds or part thereof awarded to the member’s spouse, or required to be repaid to the Fund to the credit of the member, have been repaid to the Fund; or
the contents of any notification of repayment given by the member for the purposes of section 27B(5) are true and correct.