Singapore legislation
Regulation 10
of Central Provident Fund (Retirement Sum Scheme) Regulations 1988
Regulation 10
Amount deposited with approved bank
Subregulation 1
This regulation applies where a member has, before 1 January 2014, deposited an amount in a bank account with an approved bank under the former section 15(6C)(b) of the Act.
Subregulation 2
The moneys standing to the credit of the account of the member in the approved bank bear interest at such rate as may be determined by the bank from time to time.
Subregulation 3
No member is entitled to deposit the amount mentioned in the former section 15(6C)(b) of the Act in more than one account with any approved bank or banks at any one time unless approved by the Board.