2. Regulation 23 of the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) is amended by deleting paragraphs (a) and (b) and substituting the following paragraphs:
“(a)
to refund to his retirement account any payment from the minimum sum, together with the whole or such part, as the Board may determine, of the interest that would have been payable thereon if the payment had not been made; or
(b)
to surrender the approved annuity purchased with the minimum sum and refund all the moneys representing the surrender value of the approved annuity to his retirement account, together with the whole or such part, as the Board may determine, of the interest that would have been payable on the moneys withdrawn to purchase the approved annuity if the withdrawal had not been made.”.
[G.N. No. S 504/2007]