Suggest a correction

Repayment of moneys where house or flat is vested in Housing and Development Board, Jurong Town Corporation or approved developer

Central Provident Fund (Approved Housing Schemes) Regulations 1986

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

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—(1) Subject to paragraph (2), where a member —(a)has withdrawn any moneys under these Regulations in respect of a house or flat; or(b)is required under section 27D(1)(h), 27DA(1)(g), 27DB(2)(c) or 27F(1)(f) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat,no moneys are payable by the member to the Fund where —(c)the house or flat is vested in the Housing and Development Board under section 50 of the Housing and Development Act 1959, the Jurong Town Corporation under section 40 of the Jurong Town Corporation Act (Cap. 150, 1998 Revised Edition) or an approved developer under section 92 of the Housing and Development Act 1959; and(d)the moneys paid or deposited in respect of the house or flat are forfeited by the Board, Corporation or approved developer, as the case may be.(2) Where any sum of money paid or deposited in respect of the house or flat is refunded to the member by the Housing and Development Board, the Jurong Town Corporation or the approved developer (as the case may be) upon the vesting of the house or flat mentioned in paragraph (1), the member must pay into his or her account in the Fund whichever is the lesser of the following amounts:(a)the amount so refunded to him or her; (b)such of the following amounts as may be applicable to the member or, if both amounts are applicable to him or her, the aggregate of both amounts:(i)where paragraph (1)(a) applies to the member, all moneys withdrawn by him or her under these Regulations in respect of the house or flat (including any moneys lent to that member under section 14A of the Act in connection with the purchase or acquisition of that house or flat and withdrawn by that member under regulation 4A which have not been repaid), together with the whole or such part (as the Board may determine) of any interest that would have been payable on the moneys if the withdrawal had not been made;(ii)where paragraph (1)(b) applies to the member, the relevant amount.(3) In this regulation —“relevant amount” means —(a)in relation to a member who is required under section 27D(1)(h) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, the excess (if any) of —(i)the amount which the spouse of the member —(A)has given an undertaking to refund to the Board under section 15AB(3) or (4) of the Act or a former provision; or(B)is deemed to have given an undertaking to refund to the Board under section 21C(2) or 21D(1) of the Act,in the event the house or flat is sold or otherwise disposed of; over(ii)the amount which has been paid to the Board under section 27D(1)(f) of the Act towards covering the deficiency in the retirement sum which the spouse is required to set aside;(b)in relation to a member who is required under section 27DA(1)(g) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, the excess (if any) of —(i)the amount payment of which was secured by all of the charges on the house or flat mentioned in section 27DA(1)(b) of the Act; over(ii)the amount which has been paid to the Board under section 27DA(1)(e) of the Act towards covering the deficiency in the retirement sum which the spouse is required to set aside;(c)in relation to a member who is required under section 27DB(2)(c) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, the excess (if any) of —(i)the amount payment of which was secured by all of the charges on the house or flat mentioned in section 27DB(1)(b) of the Act; over(ii)the amount which has been paid to the Board under section 27DB(2)(a) of the Act towards covering the deficiency in the retirement sum which the spouse is required to set aside; or (d)in relation to a member who is required under section 27F(1)(f) of the Act to make a payment to the Fund upon the sale or disposal of a house or flat, the excess (if any) of —(i)the amount which would have been payable into the account of the member’s spouse in the Fund under paragraph (2) (excluding such interest or part of such interest payable under that paragraph as the Board may determine), if there was no order of court mentioned in section 27F(1)(c) of the Act requiring the transfer (other than by way of sale) of the spouse’s interest in the house or flat to the member; over(ii)the amount which has been paid to the Fund to the credit of the spouse under section 27F(1)(e) of the Act.

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