On 20/05/2013,
you requested for the version in force on 20/05/2013
incorporating all amendments published on or before 20/05/2013.
The closest version currently available is that of 02/06/2008.
Central Provident Fund Act
Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order
O 8
G.N. No. S 632/2007
REVISED EDITION 2008
(2nd June 2008)
[28th December 2007]
1. This Order may be cited as the Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order.
2. In this Order, unless the context otherwise requires —
“automatic premium loan feature” means a feature in a life or endowment assurance which allows the issuer of the assurance to advance and set-off, against any cash value of the assurance, an amount for the payment of —
(a)
any premium of the assurance which is in arrears after any grace period, so as to protect the benefits under the assurance; and
(b)
any interest payable for the advance;
“Part V Assurance” means a life or endowment assurance effected under Part V of Statute 18 (as defined in section 18(8) of the National University of Singapore (Corporatisation) Act (Cap. 204A)).
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 —
(a)
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
(b)
any interest payable for the advance.
[G.N. No. S 632/2007]