Regulation 1
Citation
This Order is the Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007.
/akn/sg/act/sub_leg/1953/CPFA-OR8
Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1953
- Sections
- 3
Quick answer
About this subsidiary legislation
Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CPFA-OR8 1953, currently marked in force and first recorded in 1953.
Regulation 2
Definitions
In this Order —“automatic premium loan feature” means a feature in a life or endowment assurance which allows the issuer of the assurance to advance and set‑off, against any cash value of the assurance, an amount for the payment of —
(a)
any premium of the assurance which is in arrears after any grace period, so as to protect the benefits under the assurance; and
(b)
any interest payable for the advance;“Part V Assurance” means a life or endowment assurance effected under Part V of Statute 18 (as defined in section 18(7) of the National University of Singapore (Corporatisation) Act 2005).
Definition
“automatic premium loan feature” means a feature in a life or endowment assurance which allows the issuer of the assurance to advance and set‑off, against any cash value of the assurance, an amount for the payment of —
(a)
any premium of the assurance which is in arrears after any grace period, so as to protect the benefits under the assurance; and
(b)
any interest payable for the advance;
Definition
“Part V Assurance” means a life or endowment assurance effected under Part V of Statute 18 (as defined in section 18(7) of the National University of Singapore (Corporatisation) Act 2005).
Regulation 3
Exemption
Section 24(2) of the Act and regulation 6 of the Central Provident Fund (Investment Schemes) Regulations 2000 do not apply to a member, in respect of any Part V Assurance held by him or her which has an automatic premium loan feature, only to the extent that the issuer of the Part V Assurance may advance and set‑off (under the automatic premium loan feature), against any cash value of the Part V Assurance, an amount for the payment of —
(a)
any premium of the Part V Assurance which is in arrears after any grace period, so as to protect the benefits under the Part V Assurance; and
(b)
any interest payable for the advance.
Common questions
- What is Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007?
- Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CPFA-OR8 1953, currently marked in force and first recorded in 1953.
- Is Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 still in force?
- Yes — Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 is currently in force.
- When did Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 take effect?
- Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 was first recorded in 1953.
- How many regulations does Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 have?
- Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 contains 3 regulations.
- Where can I read the official version of Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007?
- The official text of Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007 is published at sso.agc.gov.sg.