Singapore legislation
Regulation 43
of Central Provident Fund (Investment Schemes) Regulations 2000
Regulation 43
Death
Subregulation 1
Where a member dies after the member has made an application to withdraw the whole or part of the available amount to purchase any securities under these Regulations, the Board may, despite the member’s death, permit withdrawals to be made for the payment of such securities.
Subregulation 2
A member’s obligation to repay into the Fund the proceeds and benefits of any securities which the member has purchased or acquired pursuant to any investment scheme introduced under Part 2 or 3, and which the member has not withdrawn with the approval of the Board under regulation 40(1)(a)(ii), ceases upon the member’s death.
Subregulation 3
Where —
a member has purchased or acquired pursuant to any investment scheme introduced under Part 4, and has not withdrawn with the approval of the Board under regulation 40(1)(b), any securities;
those securities are shares in an approved corporation; and
either of the following applies:
the member died before 1 January 1996;
the member died on or after 1 January 1996, and no person has been nominated by the member under section 25(1) of the Act to receive those securities or any portion of those securities,the member’s obligation to repay into the Fund the proceeds and benefits of those securities or of that portion of those securities (as the case may be) ceases upon the Board being notified of the member’s death.
Subregulation 4
A member’s obligations under regulations 24 and 25 to repay into the Fund any moneys standing to the member’s credit in the member’s CPF Investment Account cease upon the member’s death.