Singapore legislation
Regulation 5
of Central Provident Fund (Closure of Special Account) Regulations 2025
Regulation 5
Prescribed circumstances for payment to ordinary account under section 13AA(4)(b) of Act
Subregulation 1
For the purpose of section 13AA(4)(b) of the Act, P (as mentioned in that provision) is to be paid to a member’s ordinary account if any of the following circumstances apply: (a)P is the whole or part of the proceeds of any sale of units in a unit trust scheme, as described in regulation 28(6)(a) of the Central Provident Fund (Investment Schemes) Regulations (Rg 9), that would have been transferred to the member’s special account under regulation 32(3) of those Regulations if not for its closure;
P is an amount that the Board would have restored to the member’s special account if not for its closure, when the Board reverses (by reason of error or for any other reason) any of the following transfers or withdrawals:
a withdrawal from the member’s special account under section 15(2)(a), (3) or (4) of the Act, if the member is not a specified member;
a transfer from the member’s special account to the member’s retirement account under regulation 5A of the Central Provident Fund (New Retirement Sum Scheme) Regulations (Rg 31);
a withdrawal from the member’s special account under section 20(1)(b) or (1A) of the Act;
a transfer from the member’s special account to a medisave account under section 18C or 18D of the Act;
P is an amount that the Board would have restored to the member’s special account if not for its closure, when the Board reverses a withdrawal from the member’s special account made under section 15AA(1) of the Act (not being a reversal due to the member’s application to cease to be regarded as a member with a significant condition for the purposes of the withdrawal).