Singapore legislation
Regulation 6
of Central Provident Fund (Education Scheme) Regulations 1989
Regulation 6
Guarantor
Subregulation 1
Where the Board requires a member, the member’s child or the member’s relative to furnish a guarantee by any person under section 22(3)(b) of the Act, the guarantor must —
be a citizen or a permanent resident of Singapore;
not be below 18 years of age or above 60 years of age;
be gainfully employed with a minimum monthly income of $500; and
not be an undischarged bankrupt.
Subregulation 2
If a guarantor mentioned in paragraph (1) dies or becomes a bankrupt or is incapacitated at any time before the withdrawals are refunded to the Board under regulation 5(1), the member, the member’s child or the member’s relative (as the case may be) who furnished the guarantee must immediately by written notice inform the Board of the occurrence of the event and, if required by the Board, furnish a guarantee by another person acceptable to the Board.
Subregulation 3
Despite paragraph (1), the Board may, in any particular case and subject to such terms and conditions as it may impose, waive all or any of the requirements to be satisfied by a guarantor under that paragraph.