Singapore legislation
Regulation 6A
of Central Provident Fund (Designated Shares) Regulations 2022
Regulation 6A
Time of sale of vested shares under section 26(6)(aa) of Act
Subregulation 1
Subject to paragraph (2) and regulation 11, if the Board decides to sell a designated shareholder’s vested shares under section 26(6)(aa) of the Act, the Board must sell the vested shares on a working day —
between 10 and 14 May 2024 (both dates inclusive) — where the Board is first notified before 1 April 2024 that the designated shareholder is not an applicable person; or
between the 10th and 12th day (both days inclusive) of the second month after the month in which the Board is first notified that the designated shareholder is not an applicable person — where the Board is first notified on or after 1 April 2024 that the designated shareholder is not an applicable person.
Subregulation 2
Where, before the Board sells the vested shares under paragraph (1) —
it is notified that the designated shareholder has died; or
the designated shareholder’s accounts in the Fund are deemed to be dormant under section 2(1B) of the Act,the Board may, as far as practicable, in dealing with the designated shares, apply the provisions relating to the circumstances in sub‑paragraph (a) or (b) as the case may be.