Singapore legislation
Regulation 21
of Central Provident Fund (Investment Schemes) Regulations 2000
Regulation 21
Property funds
Subregulation 1
A member who wishes to use the whole or part of the available amount in the member’s ordinary account to purchase shares in a property fund, whether such shares 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 in a property fund purchased by a member under this regulation, all proceeds of the sale must be transferred immediately to the CPF Investment Account of the member.