On 22/05/2013,
you requested for the version in force on 22/05/2013
incorporating all amendments published on or before 22/05/2013.
The closest version currently available is that of 01/01/1998.
PART II
CPF INVESTMENT SCHEME
8. For the purposes of this Part, “securities” shall not include shares in an approved corporation.
9.
—(1) A member may submit an application to the Board for authorisation to withdraw under this Part the whole or part of the available amount —
(a)
for the payment in full or in part of any gold or securities purchased by him;
(b)
to purchase shares offered under an initial public offer; or
(c)
to reimburse him for the cost of such purchase.
(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(3) The total amount which may be withdrawn under paragraph (1) shall not exceed the purchase price of any gold or securities purchased by the member or the purchase price of the shares offered under the initial public offer.
(4) The available amount which a member is entitled to withdraw from the moneys standing to his credit in the Fund shall, at the request of the member, be transferred to his CPF Investment Account.
(5) Where a member who has made an application under paragraph (1) is unsuccessful in the purchase of shares under the initial public offer, the available amount transferred under paragraph (4) shall remain in the member’s CPF Investment Account and shall be subject to these Regulations.
10.
—(1) A member who wishes to deposit the whole or part of the available amount in a fixed deposit account with an approved bank shall submit an application to the Board for authorisation to withdraw the available amount.
(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) The receipt of the fixed deposit account shall be issued by the approved bank in the name of the member only and shall not be pledged as collateral for any purposes whatsoever.
(4) All moneys withdrawn by a member under this regulation, including interest, shall be returned forthwith by the approved bank to the member’s CPF Investment Account on the termination or maturity of the fixed deposit account.
11.
—(1) A member who wishes to use the whole or part of the available amount to purchase an endowment insurance policy for himself from an insurer shall apply to the Board to withdraw the available amount and to forward the amount to the insurer in payment of the premiums in respect of such policy.
(2) Where a member has before 1st October 1993 purchased an endowment insurance policy, the member may apply to the Board to use the whole or part of the available amount to pay the future premiums in respect of such policy.
(3) An application made by a member under paragraph (1) or (2) may be approved subject to such terms, conditions and procedures as the Board may impose.
(4) The endowment insurance policy shall not be pledged as collateral for any purposes whatsoever.
(5) All moneys withdrawn by a member under this regulation, including interest, shall, subject to such terms and conditions as the Board may impose, be returned forthwith by the insurer to the member’s CPF Investment Account on the maturity or surrender of the endowment insurance policy.
12.
—(1) A member who wishes to deposit the whole or part of the available amount in a fund management account with an approved fund manager shall submit an application to the Board for authorisation to withdraw the available amount and to forward the amount to the fund manager.
(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) All moneys withdrawn by a member under this regulation, including interest, shall be returned forthwith by the fund manager to the member’s CPF Investment Account when the member terminates his fund management account or when the fund manager’s approval by the Board for the purposes of these Regulations is withdrawn.