Clause 4

Subject to subsection (5), there shall be maintained for each member in respect of the money standing to his credit in the Fund the following subsidiary accounts:

an ordinary account from which, apart from section 12(2) to (5), withdrawals may be made in accordance with regulations made under section 45(1)(g) or (i);

a medisave account from which, apart from section 12(2) to (5) but subject to section 12A, withdrawals may be made in accordance with regulations made under section 45(1)(ga); and

a special account from which no withdrawal may be made except under section 12(2) to (5).(2) Every ordinary account, medisave account and special account which was maintained by the Board for a member before the commencement of the Central Provident Fund (Amendment) Act 1984 shall be deemed to have been validly maintained.(3) All moneys standing to the credit of a member in his special account as at 1st April 1984 shall be deemed to have been transferred to his medisave account except where the member is entitled at that date to withdraw such money under section 12.(4) The Board shall credit to each of the accounts specified in subsection (1) every contribution paid into the Fund for a member in such manner as the Minister may direct, and the Minister may give different directions in respect of different classes of members.(5) Where any contributions are paid into the Fund by any person pursuant to any regulations made under section 45(1)(e), the Minister may direct that the amount of every such contribution be credited into —

a medisave account; or

a medisave account and a special account in such manner as the Minister may determine.Payment of cash grant by Government into the Fund11B.—

The Board may after 1st June 1984 accept any cash grant made by the Government for the benefit of any person who qualifies for such grant under any approved scheme; and the Board shall credit the cash grant into the ordinary account of that person.(2) Any cash grant paid into the Fund under subsection (1) shall be deemed to be contributions for the purposes of this Act, but such cash grant or interest thereon shall not be withdrawn under any regulations made under section 45 unless those regulations expressly provide for the withdrawal of such cash grant.(3) Notwithstanding anything contained in this Act, the Board shall be entitled to recover on behalf of the Government any cash grant paid into the Fund for the benefit of any person, together with any interest which he is liable to pay the Government under the terms of the cash grant, from any money standing to the credit of that person in the Fund if —

that person has obtained the cash grant by means of any false or misleading statement or any document that is false or misleading in any particular; or

that person has committed a breach of any of the terms and conditions of the cash grant.(4) Any money recovered by the Board from any person under subsection (3) shall be refunded forthwith to the Government.(5) In this section —“approved scheme” means a scheme approved by the Minister for the purposes of this section;“cash grant” means a cash grant made by the Government under any approved scheme.”.