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Distribution of amount paid to officer’s account in Fund, etc.

Central Provident Fund (Ministry of Defence Housing Scheme) Regulations

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Proposed text

Where any provision of these Regulations provides for any moneys withdrawn by an officer to be paid to the officer’s account in the Fund or to the Board, the Board shall credit any amount so paid in the following manner:(a)where the moneys were withdrawn solely from the officer’s ordinary account or retirement account, or were withdrawn partly from the officer’s ordinary account and partly from the officer’s retirement account, the Board shall credit the amount so paid to the officer’s ordinary account; or(b)where the moneys were withdrawn solely from the officer’s special account, or were withdrawn partly from the officer’s special account and partly from either or both of the officer’s ordinary account and retirement account, the Board shall credit —(i)the amount of the moneys withdrawn from the officer’s special account, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made, to the officer’s special account; and(ii)any remainder of the amount so paid to the officer’s ordinary account.

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