Central Provident Fund Act 1953 · 2020 Revised Edition · Part 4 · Home Protection Insurance Scheme
39. Regulations for purposes of this Part
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The Minister may make such regulations as are necessary or expedient for the purpose of carrying out the provisions of this Part and, in particular, such regulations may —
provide for the different classes of members of the Scheme and the rates of premium payable by such members;
Scheme
“Scheme” means the Lifelong Income Scheme established and maintained by the Board under section 27K.
provide for the maximum amount of premium loading payable by members;
provide for the manner and time for payment of premiums and premium loading by the different classes of members of the Scheme;
provide for the period and commencement of cover under the Scheme;
prescribe the insured sum in respect of each class of Scheme members;
insured sum
“insured sum” means the sum prescribed in regulations made under this Part which is payable on the death or incapacity of a Scheme member;
provide, in respect of each class of members of the Scheme, for the amount of money payable by the Board to the Housing Authority or the approved mortgagee in the event of the death or incapacity of a member of the Scheme;
Board
“Board” means the Central Provident Fund Board constituted under section 3;
prescribe the circumstances referred to in section 36(1)(a) and (2)(a) under which the Board may make payment to any person other than the Housing Authority or the approved mortgagee, the person or persons to whom such payment may be made and the manner in which such payment may be made;
provide, in respect of each class of members of the Scheme, for the amount of money payable by the Board under the Scheme where the prescribed premium has not been fully paid;
[Deleted by Act 6 of 2016]
provide the circumstances for the refund of any premium or premium loading (and the whole or such part, as the Board may determine, of any interest that would have been payable on the amount of the premium or premium loading if that amount had been standing to a person’s credit in the person’s account in the Fund), and the manner and rate of such refunds;
prescribe the evidence to be produced and the person, officer or authority to whom that evidence is to be produced for the purposes of this Part;
provide for the manner in which money in the Home Protection Fund may be invested;
Home Protection Fund
“Home Protection Fund” means the Home Protection Fund established and maintained by the Board under section 33(1);
provide for the premium payable by members of the Scheme in cases where the immovable property is purchased in joint names;
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;
provide for such information, evidence and documents that the Board may require a member of the Scheme to furnish for the purposes of this Part; and
member of the Scheme
“member of the Scheme” or “Scheme member” means a person who is insured under the Scheme;
prescribe anything which the Minister may prescribe under this Part.