Singapore legislation

Regulation 5

of Central Provident Fund (Nominations) Rules 1986

Regulation 5

Nominees and shares

Subregulation 1

A nomination may be in favour of one person or of several persons (who must be clearly designated in the nomination), and, where there is more than one nominee, may direct that the nominees are to take the money or any designated shares in specified shares.

Subregulation 2

Where a nomination directs that 2 or more nominees are to take any designated shares in such portions as are specified in the nomination, and the distribution of those shares to those nominees in those portions will give rise to fractions of shares, the Board must —

(a)

distribute to those nominees in those portions only such of those shares the distribution in those portions of which will not give rise to fractions of shares; and

(b)

transfer the remaining shares to the surviving nominee who is first‑named in the nomination.

Read in full context — Central Provident Fund (Nominations) Rules 1986 →