Clause 8
Amendment of section 14
of Central Provident Fund (Amendment) Bill
Section 14 of the principal Act is amended —
by inserting, immediately after the words “such account” in subsection (1), the words “in the Fund”;
by inserting, immediately after subsection (1), the following subsection:“(1A) Where —
the Board, pursuant to an activity engaged under section 76(1)(a) —
has attempted to make a cash payment to a person by issuing a cheque or other physical payment instrument to the person; and
has sent a notice to the person of the issue of the cheque or other physical payment instrument, whether or not the person receives the notice; and
the cheque or other physical payment instrument has been returned to the Board or has expired before it is encashed,the Board may, in lieu of making the cash payment, credit an amount equivalent to the value of the cash payment into such account of that person in the Fund as the Minister may direct.”;
by inserting, immediately after the words “cash grant” wherever they appear in subsections (2) and (3), the words “or payment”;
by inserting, immediately after the words “subsection (1)” in subsection (2), the words “or (1A), as the case may be,”; and
by inserting, immediately after the word “Government” in the section heading, the words “or other payments”.