Singapore legislation
Regulation 5
of Central Provident Fund (Retirement Sum Plus Scheme) Regulations 2000
Regulation 5
Deposit with approved bank
Subregulation 1
Any member who wishes to deposit the additional sum with an approved bank or banks may apply to the Board in such form and manner as the Board may determine.
Subregulation 2
Any application for approval under paragraph (1) must be made before 1 January 2014 and must contain such information and particulars as the Board may require.
Subregulation 3
If the Board is satisfied that the member has opened an account with an approved bank or banks and that the account is to be used solely for the purpose of depositing the additional sum, the Board must (before 1 January 2014) transfer the member’s additional sum to his or her account in the bank or banks.
Subregulation 4
A member is entitled at any one time to deposit the additional sum in more than one account with any approved bank.