Singapore legislation
Regulation 5
of Central Provident Fund (Residential Properties Scheme) Regulations 1982
Regulation 5
Cash grants
Subregulation 1
Where a cash grant made under an approved scheme administered by the Ministry of National Development has been paid into the Fund for any person under section 14 of the Act and the person has purchased or acquired or applied to purchase or acquire a residential property, the Board may, subject to these Regulations, and to such terms and conditions as it may impose, permit that person to withdraw the cash grant for all or any of the purposes specified in these Regulations.
Subregulation 2
All moneys withdrawn under paragraph (1) together with the whole or such part (as the Board may determine) of any interest that would have been payable on the moneys if the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 —
are payable to the Board if the person has committed a breach of any of the terms and conditions of the cash grant and the Minister for National Development, or any officer duly authorised by that Minister, does not waive the breach in writing; and
despite regulation 28(5), remain payable to the Board on the death of the member or when the member is entitled to withdraw the sum standing to the member’s credit under section 15, 15AA or 15AB of the Act.