Singapore legislation
Regulation 10
of Central Provident Fund (Home Protection Insurance Scheme) Regulations 2024
Regulation 10
Deemed termination of AP cover under section 29(8) of Act
Subregulation 1
Unless the member’s AP cover ceases or is cancelled earlier under these Regulations or had ceased or been cancelled under the revoked Regulations, where the Board becomes satisfied in any policy year that the member is not a citizen or permanent resident of Singapore, the member’s AP cover is deemed to be terminated —
if the policy year starts within the premium holiday period — when the member’s AP cover ceases under regulation 8(3) or 15, whichever is earlier; or
if the policy year starts before the premium holiday period — at the end of the policy year.
Subregulation 2
In this regulation —
Definition
“premium holiday period” means the last 10% of the total period of a member’s AP policy cover (rounded up to the nearest year);
Definition
“total period of a member’s AP policy cover” is the period (inclusive of both the starting date and the ending date) —
starting on the date the first policy period of the AP cover starts as determined under regulation 8(1); and
ending on the earlier of the following dates:
the date the housing loan is fully redeemed or the mortgage fully discharged, as determined under regulation 15(1);
the last day of the policy year in which the member attains 65 years of age as mentioned in regulation 8(3).