Central Provident Fund (Modifications to Act for Design-Build-and-Sell Scheme) Order

Status:

Revised Edition
published on 30 Nov 2006

Central Provident Fund Act

(Chapter 36, Section 28(2))

Central Provident Fund (Modifications to Act for Design-Build-and-Sell Scheme) Order

O 7

G.N. No. S 504/2006

REVISED EDITION 2006

(30th November 2006)

[28th August 2006]

Citation

1. This Order may be cited as the Central Provident Fund (Modifications to Act for Design-Build-and-Sell Scheme) Order.

Modifications to Part IV of Act

2.—(1) Part IV of the Act shall apply in relation to any housing accommodation sold or to be sold by an approved developer under Part IVB of the Housing and Development Act (Cap. 129) with the following modifications:

(a)

the references in sections 29 (1), 30(1) and (3), 32(5), 36(8) and 39(i) of the Act to immovable property shall include housing accommodation;

(b)

the references in sections 29 (2) and (3) and 30(2) of the Act to the purchase of any immovable property from a Housing Authority shall include the purchase of any housing accommodation from an approved developer;

(c)

in the case of housing accommodation purchased from an approved developer, section 36(1) of the Act shall be substituted to read as follows:

“(1) Where a member of the Scheme has died at any time during the period he is insured under the Scheme and —

(a)	the date of his death is on or after the relevant date in respect of the housing accommodation within the meaning of section 65S of the Housing and Development Act (Cap. 129); or
(b)	the date of his death is before the relevant date in respect of the housing accommodation and the Minister for National Development has made a direction under that section not to cancel the application for purchase or terminate the sale and purchase agreement (if any),

then the Board shall, upon proof of death —

(i)

where all progress payments to the approved developer for the purchase of the housing accommodation have been made, immediately pay to the Housing Authority or the approved mortgagee such amount as is prescribed under regulations made under this Part; or

(ii)

where any progress payment for the purchase of the property remains to be made —

(A)	immediately pay to the Housing Authority or the approved mortgagee such amount as is prescribed under regulations made under this Part; and
(B)	pay to the approved developer at such time or at such intervals as the Board may determine, such amount (if any) as is prescribed under regulations made under this Part.;”;

(d)

the amount payable by the Board to the approved developer under section 36(1) of the Act as modified under sub-paragraph (c) shall in no case exceed the sum of all outstanding progress payments at the time of the death;

(e)

in the case of housing accommodation purchased from an approved developer, the reference in section 36(2) of the Act to a period not exceeding 2 years shall read as a period not exceeding 2 years or such other period as the Board may determine;

(f)

regulations may be made under section 39 of the Act to provide for the amount of money payable by the Board to the Housing Authority or approved mortgagee and the approved developer under section 36(1) of the Act as modified under sub-paragraph (c); and

(g)

where a member of the Scheme who purchased housing accommodation from an approved developer has died and the approved developer has cancelled his application for purchase and terminated the sale and purchase agreement (if any) under section 65S of the Housing and Development Act (Cap. 129), then —

(i)	the member shall be deemed not to have been covered under the Scheme;
(ii)	the Board shall, subject to such terms and conditions as it may impose, refund all premiums that have been paid by crediting an amount equivalent to the premiums to his ordinary account or, if another member of the Fund paid the premiums, that other member’s ordinary account; and
(iii)	the Board shall not be liable to make any payment under section 36 of the Act in respect of his death.

(2) In this paragraph, “approved developer” and “housing accommodation” have the meanings given to them by section 65M of the Housing and Development Act.

[G.N. No. S 504/2006]

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