Singapore legislation
Regulation 5
of Central Provident Fund (Approved Middle-Income Housing Scheme) Regulations 1975
Regulation 5
Instalment payments
Subregulation 1
Where a member of the Fund is, in accordance with an agreement entered into with the Company, required to pay monthly instalments of principal and interest on account of the purchase of a property from the Company for his or her own occupation, the Board may, on the member’s application 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as the Board may impose, authorise the whole or part of the amount standing to the member’s credit in the Fund to be withdrawn and used for the payment of those monthly instalments.
Subregulation 2
The amount which a member of the Fund may withdraw in a month under this regulation must not exceed the amount of the monthly instalment payable to the Company in that month.