Singapore legislation
Regulation 14
of Central Provident Fund (Investment Schemes) Regulations 2000
Regulation 14
Application to withdraw moneys for purchase of shares or bonds
Subregulation 1
A member who wishes to use the whole or part of the available amount in the member’s ordinary account to purchase such shares or bonds as may be mentioned in paragraph (a) or (b) of the definition of “securities” in regulation 2, whether such shares or bonds are offered under an initial public offer or otherwise, must apply to the Board to withdraw the amount required.
Subregulation 2
An application made by a member under paragraph (1) may be approved subject to such terms, conditions and procedures as the Board may impose.
Subregulation 3
Upon the sale of the shares or bonds purchased by a member under this regulation, all proceeds of the sale must be transferred forthwith to the CPF Investment Account of the member.