Singapore legislation
Regulation 36
of Central Provident Fund (Investment Schemes) Regulations 2000
Regulation 36
Transfer of proceeds from Share Profit Account
Subregulation 1
Where a member has sold the member’s shares in an approved corporation and the proceeds of such sale have been credited to the member’s Share Profit Account under regulation 35, the Board may, upon the application of the member or on or after the death of the member, transfer the proceeds of such sale from the member’s Share Profit Account to the member’s ordinary account.
Subregulation 2
Where the proceeds of the sale of a member’s shares in an approved corporation have been transferred from the member’s Share Profit Account to the member’s ordinary account under paragraph (1) —
the member is deemed to have withdrawn those proceeds from the member’s Share Profit Account; and
those proceeds must not thereafter be transferred from the member’s ordinary account to the member’s Share Profit Account.