No. S 104
Central Provident Fund Act
Central Provident Fund (Investment Schemes) (Amendment) Regulations 2000
—(1) These Regulations may be cited as the Central Provident Fund (Investment Schemes) (Amendment) Regulations 2000 and shall, with the exception of regulations 2 and 9, come into operation on 15th March 2000.
(2) Regulation 2 of these Regulations shall come into operation on 1st March 2000.
(3) Regulation 9 of these Regulations shall come into operation on 1st April 2000.
2. The Central Provident Fund (Investment Schemes) Regulations (Rg 9) (referred to in these Regulations as the principal Regulations) are amended by renumbering regulation 2 as paragraph (1) of that regulation, and by inserting immediately thereafter the following paragraph:
3. Regulation 9 (1) of the principal Regulations is amended —
by inserting, at the end of sub-paragraph (a), the word “and”;
by deleting the word “; or” at the end of sub-paragraph (b) and substituting a full-stop; and
by deleting sub-paragraph (c).
5. Regulation 16 of the principal Regulations is amended by deleting paragraph (1) and substituting the following paragraph:
“(1) Where the available amount is insufficient to pay in full for —
entitlements to rights issue or any other entitlement taken up by the member; or
the conversion of warrants to ordinary shares,
in respect of shares purchased with CPF contributions withdrawn under these Regulations as permitted by the Board, the Board may permit the balance of the purchase price to be paid by the member in cash and credited to his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.”.
8. Regulation 21 of the principal Regulations is amended by deleting the words “or for the reimbursement of the cost of the purchase” in the 4th and 5th lines.
9. Regulation 25 of the principal Regulations is amended by deleting paragraphs (1) and (2), and substituting the following paragraph:
“(1) Where a member has not operated the CPF Investment Account for a period of 2 months or such other period as the Board may allow, the approved bank shall forthwith pay all moneys from his CPF Investment Account to the Board to be credited to his ordinary account in the Fund.”.
[G.N. Nos. S 432/98; S521/98; S 548/98; S 43/99; S 86/99;S 201/99; S 351/99; S 517/99]
[MM S 2.4.3/80 V3; AG/LEG/SL/36/97/1 Vol. 1]