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Disbursements in relation to purchase or acquisition, etc.

Central Provident Fund (Residential Properties Scheme) Regulations 1982

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—(1) Subject to regulation 8A, where a member is required to pay any costs, fees, stamp duties or other incidental expenses in connection with —(a)the purchase or acquisition of a residential property by the member, whether or not moneys were withdrawn under these Regulations for such purchase or acquisition;(b)any change in the manner of holding of a residential property (in which the member has an estate or interest) from a joint tenancy to a tenancy in common, or vice versa;(c)the transfer of any part (but not the whole) of the member’s estate or interest in a residential property to any other person;(d)the obtaining of any housing loan in respect of, or the creation or discharge of a mortgage on, a residential property purchased or acquired by the member;(e)the transfer or assignment to the member of a residential property; or(f)the withdrawal of money under these Regulations,the Board may, on the application of the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to the member’s credit in the Fund to be withdrawn and used for that purpose.(2) To avoid doubt, where a member is required to pay any costs, fees, stamp duties or other incidental expenses in connection with —(a)any divestment, whether by sale, transfer, assignment or otherwise, by the member of the whole of the member’s interest or title in a residential property; or(b)the discharge of any mortgage on a residential property upon divestment by the member of the whole of the member’s interest in such residential property,no amount standing to the member’s credit in the Fund is to be withdrawn for that purpose.

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