Singapore legislation
Regulation 13
of Central Provident Fund (Investment Schemes) Regulations 2000
Regulation 13
Amount which may be withdrawn from ordinary account
Subregulation 1
Subject to paragraphs (2) to (5), the aggregate amount of CPF contributions which a member may withdraw from the member’s ordinary account under this Part, or under this Part and regulation 39 collectively, in relation to each purchase of any securities —
must not exceed —
the purchase price of those securities; and
if the withdrawal is made under this Part and regulation 39 collectively, any brokerage, fees and other expenses incurred in the purchase, administration or sale of those securities which the member is required to pay; and
must, at the request of the member, be transferred to the member’s CPF Investment Account.
Subregulation 2
Subject to paragraphs (3), (4) and (5), on or after 8 April 2008, a member is not entitled to make any withdrawal of CPF contributions from the member’s ordinary account under this Part, or under this Part and regulation 39 collectively, unless there remains, after that withdrawal, at least $20,000 standing to the member’s credit in his or her ordinary account.
Subregulation 3
Paragraph (2) does not apply to a withdrawal of CPF contributions from a member’s ordinary account under this Part, or under this Part and regulation 39 collectively, if —
the application for the withdrawal is made before 1 April 2008; or
the amount to be withdrawn does not exceed the amount standing to the credit of the member in the member’s CPF Investment Account.
Subregulation 4
Paragraph (2) does not apply to any withdrawal of CPF contributions from a member’s ordinary account under this Part, or under this Part and regulation 39 collectively, for the payment of any future premium in respect of a regular premium insurance policy or regular premium investment‑linked insurance policy purchased by the member under regulation 16 before 1 April 2008.
Subregulation 5
Despite paragraph (2) and regulation 23(2), where —
before 1 January 1997, a member submitted an application to the Board for authorisation to withdraw the whole or part of the available amount for the purchase of any securities;
the available amount was insufficient to pay for the purchase in full; and
before 1 January 1997, the member paid for the balance of the purchase price in cash,the Board may allow the member to withdraw from the member’s ordinary account an amount not exceeding the balance of the purchase price so paid if, and only if, the member makes an application for such withdrawal before 1 April 2009.
Subregulation 6
Any amount withdrawn by a member from the member’s ordinary account under paragraph (5) must be transferred to the member’s CPF Investment Account.