Singapore legislation
Regulation 6
of Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations 1987
Regulation 6
Withdrawal for payment of share in common property transferred by Housing and Development Board
Subregulation 1
Subject to regulation 4B, where a member who has applied for the withdrawal of moneys in respect of a property under any provision of these Regulations before 16 November 1998 is liable as the owner of that property to pay for a share in any common property transferred by the Housing and Development Board pursuant to an application under section 126 of the Land Titles (Strata) Act 1967, the Board may, on the application of the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to the member’s credit in the Fund to be withdrawn by him or her for —
full or partial payment for his or her share in the common property;
periodic payments towards the repayment of a loan or for full or partial repayment of a loan; and
payment of costs, fees or other incidental expenses arising from the transfer of the common property, the obtaining of the loan or the withdrawal of moneys under this regulation.
Subregulation 2
The total amount that may be withdrawn by a member under this regulation must not exceed the amount determined by the Board.
Subregulation 3
In this regulation —
Definition
“common property” has the meaning given by section 3 of the Land Titles (Strata) Act 1967;
Definition
“loan” means a loan obtained by a member —
from an approved mortgagee mentioned in paragraph (a) or (b) of the definition of “approved mortgagee” in regulation 2(1); or
before 16 November 1998 from an approved mortgagee mentioned in paragraph (c) of that definition,on security of the relevant property to pay in whole or in part for that member’s share in the common property;
Definition
“owner” includes a co-owner;
Definition
“relevant property” means the property, including the common property, which will be comprised in a subsidiary strata certificate of title issued to the owner pursuant to the application under section 126 of the Land Titles (Strata) Act 1967.
Subregulation 4
This regulation does not apply where the member has withdrawn any money from the Fund under the Central Provident Fund (Residential Properties Scheme) Regulations 1982 in respect of the property.
Subregulation 5
Where a member has withdrawn moneys under this regulation, regulations 8 and 11 apply as if the word “property” in those regulations refers to “relevant property”.