6. Establishment of Central Provident Fund

into which are to be paid all contributions authorised under this Act; and (b)out of which are to be met all payments authorised to be paid under this Act.

deposited in a bank or banks approved by the Board;

invested in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965; or

used for the purchase of any property and for the construction of buildings for the purposes of the Board or for letting to derive income therefrom and the Board may dispose of all or any part of the property or buildings.

at such intervals, and on the amount standing to the credit of the member in the Fund at such time, as the Board may determine; and

at such rate per annum as the Board may from time to time declare by notification in the Gazette, being a rate of interest which —

is not less than 2.5% per annum; and

may exceed 2.5% per annum if the Minister for Finance so approves.

at such intervals as the Board may determine —

on the whole or such part, as the Board may determine, of the amount standing to the credit of the member in the Fund at such time as the Board may determine; and

if the member belongs to such class of members as the Minister may prescribe by regulations made under section 27Q, on the whole or such part, as the Board may determine, of the aggregate at such time as the Board may determine of —

the amount of any premium paid by the member under section 27L; and

the interest that would have been payable thereon, if that amount had been standing to the credit of the member in his or her retirement account; and

at such rate per annum, and subject to such terms and conditions, as the Board may, with the approval of the Minister for Finance, determine.

any amount standing to the credit of the member in the Fund that is or has been transferred or credited to the general moneys of the Fund under section 13(7B) as in force immediately before 1 April 2022 or section 13 or 26; and

any designated shares payments paid to the general moneys of the Fund under section 26B as in force immediately before 1 April 2022,on or after either of the following dates:

the date of the transfer of the amount or payment of the designated shares payments (as the case may be) to the general moneys of the Fund before, on or after 1 April 2022;

if the date of the member’s death is later than the date of transfer or payment mentioned in paragraph (c) — the date of the member’s death before, on or after 1 April 2022.

the Board is notified before 1 April 2022 that a member has died;

any amount standing to the credit of that member has not been transferred to the general moneys of the Fund under section 13(7B) as in force immediately before 1 April 2022; and

the Board transfers that amount to the general moneys of the Fund under section 13 on or after 1 April 2022,the Board may cease to pay interest on that amount after that amount is transferred to the general moneys of the Fund.

any amount standing to the credit of a member in the Fund that has been transferred to the general moneys of the Fund before 1 April 2022;

any designated shares payments that were credited into the general moneys of the Fund before 1 April 2022.