Singapore legislation
Regulation 18
of Central Provident Fund (Non-Residential Properties Scheme) Regulations 1986
Regulation 18
No disposal of property without Board’s permission
Subregulation 1
Where a member —
has withdrawn any moneys under these Regulations in respect of a property (including any moneys lent to the member under section 14A of the Act in respect of the property and withdrawn by the member which have not been repaid); or
is required under section 27C(1)(g), 27DA(1)(g), 27DB(2)(c) or 27E(1)(f) of the Act to pay any moneys to the Fund upon the sale or disposal of a property,as long as any such moneys remain payable to the Fund, the member must not sell, transfer, assign or otherwise dispose of the property or any of the member’s estate or interest in the property without the prior written permission of the Board.
Subregulation 2
Paragraph (1) does not apply where the sale, transfer, assignment or disposal mentioned in that paragraph is a relevant transaction and a continued charge is constituted under section 21C(1)(d) of the Act as a result of the sale, transfer, assignment or disposal.