3. Section 24(2) of the Act and regulation 6 of the Central Provident Fund (Investment Schemes) Regulations (Rg 9) shall not apply to a member, in respect of any Part V Assurance held by him which has an automatic premium loan feature, only to the extent that the issuer of the Part V Assurance may advance and set-off (under the automatic premium loan feature), against any cash value of the Part V Assurance, an amount for the payment of —
any premium of the Part V Assurance which is in arrears after any grace period, so as to protect the benefits under the Part V Assurance; and
any interest payable for the advance.
[G.N. No. S 632/2007]