On 25/05/2013,
you requested for the version in force on 25/05/2013
incorporating all amendments published on or before 25/05/2013.
The closest version currently available is that of 29/12/2000.
PART II
cpf investment scheme—ORDINARY ACCOUNT
9.
—(1) For the purposes of this Part, “securities” shall not include shares in an approved corporation.
(2) A reference in this Part to an application made by a member shall include an application made on the member’s behalf by an approved agent bank with which the member has opened a CPF Investment Account.
10.
—(1) The Board may, from time to time, appoint any bank for the purpose of any investment scheme introduced by the Board under this Part to allow members to use their CPF contributions to invest in securities in accordance with these Regulations.
(2) Where a member applies for the withdrawal of moneys under this Part, the approved agent bank shall ensure that the application of the member meets the requirements of these Regulations and that moneys are withdrawn in accordance with these Regulations.
11.
—(1) Before a member makes an application for the withdrawal of moneys under this Part, he shall first open a CPF Investment Account with an approved agent bank.
(2) Moneys in the CPF Investment Account shall bear interest at such rate as may be determined from time to time by the approved agent bank in which the account is opened.
(3) No member shall be entitled to operate more than one CPF Investment Account at any one time.
12. The total amount of CPF contributions which may be withdrawn by a member under this Part to purchase any securities —
(a)
shall not exceed the purchase price of the securities; and
(b)
shall, at the request of the member, be transferred to his CPF Investment Account.
13.
—(1) A member who wishes to use the whole or part of the available amount in his ordinary account to purchase such shares or bonds as may be referred to in paragraph (a) or (b) of the definition of “securities” in regulation 2, whether such shares or bonds are offered under an initial public offer or otherwise, shall apply to the Board to withdraw the amount required.
(2) An application made by a member under paragraph (1) may be approved subject to such terms, conditions and procedures as the Board may impose.
(3) Upon the sale of the shares or bonds purchased by a member under this regulation, all proceeds of the sale shall be transferred forthwith to the CPF Investment Account of the member.
14.
—(1) A member who wishes to deposit the whole or part of the available amount in his ordinary account in a fixed deposit account with an approved fixed deposit bank shall apply to the Board to withdraw the amount required.
(2) An application made by a member under paragraph (1) may be approved subject to such terms, conditions and procedures as the Board may impose.
(3) Upon the termination or maturity of the fixed deposit account of the member referred to in paragraph (3), all moneys, including interest, payable to the member shall be transferred forthwith by the approved fixed deposit bank to the CPF Investment Account of the member.
15.
—(1) A member who wishes to use the whole or part of the available amount in his ordinary account to purchase an insurance policy or investment-linked insurance policy for himself from an approved insurer shall apply to the Board to withdraw the amount required.
(2) Where a member has, before 1st October 1993, purchased an insurance policy or investment-linked insurance policy with moneys other than his CPF contributions, the member may apply to the Board to use the whole or part of the available amount in his ordinary account to pay the future premiums in respect of the policy.
(3) Where a member has at any time purchased an insurance policy or investment-linked insurance policy with his CPF contributions, the member may apply to the Board to use the whole or part of the available amount in his ordinary account to pay the future premiums in respect of the policy, notwithstanding that the member has applied for a loan, or is receiving moneys, from the Government pursuant to any approved loan scheme under section 14A of the Act.
(4) An application made by a member under paragraph (1), (2) or (3) may be approved subject to such terms, conditions and procedures as the Board may impose.
(5) Upon the maturity or surrender of the insurance policy or the investment-linked insurance policy purchased or maintained by a member under this regulation, all moneys payable to the member shall be transferred forthwith by the approved insurer to the CPF Investment Account of the member.
16.
—(1) A member who wishes to deposit the whole or part of the available amount in his ordinary account in a fund management account with an approved fund manager shall apply to the Board to withdraw the amount required.
(2) An application made by a member under paragraph (1) may be approved subject to such terms, conditions and procedures as the Board may impose.
(3) Upon the termination by a member of his fund management account or upon the withdrawal by the Board of its approval of the fund manager of the fund management account, all moneys payable to the member shall be transferred forthwith by the fund manager to the CPF Investment Account of the member.
17.
—(1) A member who wishes to use the whole or part of the available amount in his ordinary account to purchase units in a unit trust scheme from an approved fund manager shall apply to the Board to withdraw the amount required.
(2) An application made by a member under paragraph (1) may be approved subject to such terms, conditions and procedures as the Board may impose.
(3) Upon the sale of the units in a unit trust scheme purchased by a member under this regulation, all proceeds of the sale shall be transferred forthwith by the approved fund manager to the CPF Investment Account of the member.
18.
—(1) A member who wishes to use the whole or part of the available amount in his ordinary account to purchase gold shall apply to the Board to withdraw the amount required.
(2) An application made by a member under paragraph (1) may be approved subject to such terms, conditions and procedures as the Board may impose.
(3) Upon the sale of the gold purchased by a member under this regulation, all proceeds of the sale shall be transferred forthwith by the approved agent bank to the CPF Investment Account of the member.
19.
—(1) All shares and bonds purchased by a member with CPF contributions withdrawn under this Part shall be held in the name of a nominee company of the approved agent bank.
(2) Gold purchased by a member with CPF contributions withdrawn under this Part shall be deposited with the approved agent bank.
Insufficiency of available amount for rights entitlements or any other corporate entitlements, and conversion of warrants to shares
20.
—(1) Where the available amount is insufficient to pay in full for —
(a)
entitlements to rights issue or any other entitlements taken up by the member; or
(b)
the conversion of warrants to ordinary shares,
in respect of shares purchased with CPF contributions withdrawn under this Part as permitted by the Board, the Board may permit the balance of the purchase price to be paid by the member in cash and credited to his CPF Investment Account, subject to such terms and conditions as the Board may impose.
(2) Where the member has paid the balance of the purchase price in cash under paragraph (1), the member shall not be allowed to withdraw any CPF moneys subsequently to reimburse himself for the balance of the purchase price so paid.
21.
—(1) Where a member has not operated his CPF Investment Account for a period of 2 months or such other period as the Board may allow, the approved agent bank shall forthwith transfer all moneys from the CPF Investment Account to the Board to be credited to the member’s ordinary account.
(2) Where a member has transferred the whole or part of the available amount in his ordinary account to his CPF Investment Account for the purpose of purchasing shares or bonds offered under an initial public offer under regulation 13 but is unsuccessful in making such purchase, the approved agent bank shall, not earlier than 3 working days before the last day of the month in which the amount was refunded to the member’s CPF Investment Account by the company which made the initial public offer or its agent, transfer the amount from the CPF Investment Account to the Board to be credited to the member’s ordinary account.
22. A member who wishes to terminate his CPF Investment Account with an approved agent bank and who does not intend to open a CPF Investment Account with another approved agent bank shall sell or dispose of all the securities purchased or acquired by him under this Part, and the approved agent bank shall forthwith transfer the total proceeds thereof to the Board to be credited to the member’s ordinary account.
23.
—(1) A member who does not wish to operate the CPF Investment Account which he has opened with an approved agent bank (referred to in this regulation as the old account) may open a new CPF Investment Account with another approved agent bank (referred to in this regulation as the new account).
(2) Where a member has opened a new account, the following shall apply:
(a)
the approved agent bank in which the old account was opened shall transfer —
(i)
all the moneys from the member’s old account to his new account; and
(ii)
all the securities deposited by the member with, or held by, that approved agent bank in accordance with regulation 19 to the approved agent bank in which the new account is opened; and
(b)
all securities registered in the name of the nominee company of the approved agent bank in which the old account was opened shall be re-registered in the name of the nominee company of the approved agent bank in which the new account is opened.
(3) A member who has purchased securities from an approved fixed deposit bank, an approved insurer or an approved fund manager under this Part shall, within 2 weeks of the opening of the new account, inform the approved fixed deposit bank, approved insurer or approved fund manager, as the case may be, of his new CPF Investment Account number.