Singapore legislation
Regulation 15
of Central Provident Fund (Home Protection Insurance Scheme) Regulations 2024
Regulation 15
Full redemption of housing loan or full discharge of mortgage
Subregulation 1
If, while a Scheme member is insured under the Scheme in respect of a housing loan or a mortgage, the housing loan is fully redeemed or the mortgage is fully discharged on or after 1 April 2024 —
the Scheme member’s insurance cover under the Scheme ceases —
on the date that the housing loan is fully redeemed or the mortgage is fully discharged, as the case may be; or (ii)if the Board is unable to ascertain the exact date mentioned in sub‑paragraph (i), on a date specified by the Board; and
the Board must, subject to any terms and conditions that it may impose, make the applicable refund.
Subregulation 2
Despite regulation 28(1), regulation 7 or 18 of the revoked Regulations (as the case may be) continues to apply where the housing loan was fully redeemed or the mortgage was fully discharged before 1 April 2024.