Singapore legislation
Regulation 15
of Central Provident Fund (Investment Schemes) Regulations 2000
Regulation 15
Fixed deposit accounts
Subregulation 1
A member who wishes to deposit the whole or part of the available amount in the member’s ordinary account in a fixed deposit account with an approved fixed deposit bank 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 termination or maturity of the member’s fixed deposit account mentioned in paragraph (1), all moneys, including interest, payable to the member must be transferred forthwith by the approved fixed deposit bank to the CPF Investment Account of the member.