Singapore legislation
Regulation 29
of Central Provident Fund (Investment Schemes) Regulations 2000
Regulation 29
Application to withdraw moneys for purchase of bonds
Subregulation 1
A member who wishes to use the whole or part of the available amount in the member’s special account to purchase such bonds as may be mentioned in paragraph (b) of the definition of “securities” in regulation 2, whether such 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 bonds purchased by a member under this regulation, all proceeds of the sale must be transferred forthwith to the member’s special account.