Singapore legislation
Regulation 4
of Central Provident Fund (Residential Properties Scheme) Regulations 1982
Regulation 4
Restriction on withdrawal
Subregulation 1
A member is not entitled to withdraw any money for any purpose permitted under these Regulations in respect of a residential property unless the member has acquired or is about to acquire, with respect to the residential property —
an estate in fee simple or perpetuity; or
a leasehold estate with an unexpired term of —
more than 20 years as at the specified date — if the specified date is on or after 10 May 2019; or
30 years or more as at the specified date — if the specified date is before 10 May 2019.
Subregulation 2
Even though a member does not satisfy the requirement in paragraph (1)(a) or (b), the Board may in its discretion authorise, subject to any terms and conditions it may impose, the withdrawal of money by the member for any permitted purpose under these Regulations in respect of the residential property.
Subregulation 3
In this regulation —
Definition
“date of the inheritance”, in relation to any residential property inherited by a member, means the date on which the legal title to the property is transferred under intestacy law or a deceased person’s will to the member;
Definition
“specified date”, in relation to any residential property, means —
the date of the signing of the sale and purchase agreement for the purchase or acquisition of the residential property; or
the date of the inheritance of the residential property.