Regulation 1
Citation
These Regulations are the Central Provident Fund (Reserved Amount) Regulations 2014.
/akn/sg/act/sub_leg/1953/CPFA-RG43
Central Provident Fund (Reserved Amount) Regulations 2014
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1953
- Sections
- 4
Quick answer
About this subsidiary legislation
Central Provident Fund (Reserved Amount) Regulations 2014 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CPFA-RG43 1953, currently marked in force and first recorded in 1953.
Regulation 2
Definitions
In these Regulations —“relevant time” means —
(a)
in relation to a reserved amount set aside under section 15AA(5) of the Act or section 15(2A), (7B) or (8A) of the Act as in force before 1 March 2022 — the time of the withdrawal or surrender or other time determined by the Minister (as the case may be) mentioned in that provision; and
(b)
in relation to a reserved amount set aside under section 15(6) of the Act — the time of the withdrawal mentioned in that provision;“specified payment” has the meaning given by section 14(5) of the Act.
Definition
“relevant time” means —
(a)
in relation to a reserved amount set aside under section 15AA(5) of the Act or section 15(2A), (7B) or (8A) of the Act as in force before 1 March 2022 — the time of the withdrawal or surrender or other time determined by the Minister (as the case may be) mentioned in that provision; and
(b)
in relation to a reserved amount set aside under section 15(6) of the Act — the time of the withdrawal mentioned in that provision;
Definition
“specified payment” has the meaning given by section 14(5) of the Act.
Regulation 3
Reserved amount to be set aside in certain circumstances
Subregulation 1
For the purposes of section 15(6)(c) or 15AA(5)(b) of the Act or a former provision, if any circumstances set out in the first column of the Schedule apply to a member at the relevant time, the reserved amount to be set aside in the member’s ordinary account at that time is the total of the amounts specified in the second column of the Schedule corresponding to each of the applicable circumstances.
Subregulation 2
Despite paragraph (1), if the circumstances set out in both items 1 and 2 of the Schedule apply to a member at the relevant time, the reserved amount to be set aside in the member’s ordinary account at that time in respect of items 1 and 2 of the Schedule must not exceed the total of the following amounts:
(a)
the amount of the cash grant or specified payment credited into the member’s ordinary account under section 14(1) or (1A) of the Act, as the case may be;
(b)
any interest which the member is liable to pay to the Government under the terms of the cash grant or specified payment, as the case may be.
Subregulation 3
Despite paragraph (1), if the circumstances set out in both items 1 and 3 of the Schedule apply to a member at the relevant time, the reserved amount to be set aside in the member’s ordinary account at that time in respect of items 1 and 3 of the Schedule must not exceed the amount of cash grant or specified payment credited into the member’s ordinary account under section 14(1) or (1A) of the Act, as the case may be.
Subregulation 4
Despite paragraph (1), if the circumstances set out in any 2 or more of items 4, 5 and 6 of the Schedule apply to a member at the relevant time, the reserved amount to be set aside in the member’s ordinary account at that time in respect of items 4, 5 and 6 of the Schedule must not exceed the total of the following amounts:
(a)
the amount of the loan paid into the member’s ordinary account under section 14A(2) of the Act; (b)any interest or other charges which the member is liable to pay to the Government under the terms and conditions of the loan.
Subregulation 5
Where the Board has determined that the whole or any part of any amount set aside under this regulation is no longer required for the purpose for which it was set aside, that whole or part of the amount set aside must immediately cease to be set aside as a reserved amount.
Subregulation 6
In this regulation, “former provision” means section 15(2A)(c), (7B)(c) or (8A)(c) of the Act as in force before 1 March 2022.
Regulation 4
Application for Board’s agreement to set aside reserved amount
An application for the Board’s agreement to set aside a reserved amount for the purposes of item 7 of the Schedule must be made in writing to the Board in such manner as the Board may direct.
Common questions
- What is Central Provident Fund (Reserved Amount) Regulations 2014?
- Central Provident Fund (Reserved Amount) Regulations 2014 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CPFA-RG43 1953, currently marked in force and first recorded in 1953.
- Is Central Provident Fund (Reserved Amount) Regulations 2014 still in force?
- Yes — Central Provident Fund (Reserved Amount) Regulations 2014 is currently in force.
- When did Central Provident Fund (Reserved Amount) Regulations 2014 take effect?
- Central Provident Fund (Reserved Amount) Regulations 2014 was first recorded in 1953.
- How many regulations does Central Provident Fund (Reserved Amount) Regulations 2014 have?
- Central Provident Fund (Reserved Amount) Regulations 2014 contains 4 regulations.
- Where can I read the official version of Central Provident Fund (Reserved Amount) Regulations 2014?
- The official text of Central Provident Fund (Reserved Amount) Regulations 2014 is published at sso.agc.gov.sg.