Suggest a correction

Order of court for transfer or sale of immovable property in relation to which charge under section 21(1) or 21A(1) exists

Central Provident Fund Act 1953

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) Where —(a)a member of the Fund has withdrawn any money standing to the member’s credit in the Fund for all or any of the purposes referred to in section 21(1) or 21A(1);(b)the immovable property in relation to which the money was withdrawn is purchased or owned by the member, whether solely or as a co‑purchaser, joint tenant or tenant‑in‑common (as the case may be) with one or more other persons;(c)an order of court is made requiring the transfer (other than by way of sale) of the member’s estate or interest in the immovable property to his or her spouse; and(d)the spouse is a citizen or permanent resident of Singapore,then, subject to any regulations made under section 77(1), the following provisions apply:(e)the member or, if the order of court requires any person to do so, that person must pay to the Fund to the credit of the member —(i)any amount which the Board is entitled to recover on behalf of the Government under section 14(3) or (3A);(ii)any amount which the Board is entitled to receive or recover on behalf of the Government under section 14A(5) or (6); and(iii)such other amount (if any) as the order of court may require to be paid to the Fund to the credit of the member;(f)if the immovable property is subsequently sold or otherwise disposed of, the spouse must pay to the Fund such amount as may be determined by the Board in accordance with any regulations made under section 77(1), and the Board must credit that amount to one or more designated accounts maintained, or to be maintained, for the spouse;(g)despite sections 21(10) and 21A(9), upon the transfer of the member’s estate or interest in the immovable property to his or her spouse and upon payment in accordance with paragraph (e), if applicable —(i)any charge under section 21(1) or 21A(1) on any estate or interest in the immovable property ceases to secure the repayment of the money withdrawn from the Fund by the member (including the whole or such part, as the Board may determine, of the interest that would have been payable thereon if the withdrawal had not been made); and(ii)the member, the spouse or any other person having an interest in the immovable property is entitled to have that charge cancelled, insofar as it secures the repayment of the money withdrawn from the Fund by the member (including the whole or such part, as the Board may determine, of the interest that would have been payable thereon if the withdrawal had not been made);(h)there is a charge on the spouse’s estate or interest in the immovable property to secure the payment referred to in paragraph (f);(i)section 21(1A), (2), (4), (5) and (8) to (12) or sections 21(12) and 21A(1A) to (4) and (7) to (9) (as the case may be) apply, with the necessary modifications, to the charge under paragraph (h), and for the purposes of such application —(i)any reference to the charge under section 21(1) or 21A(1) is to be read as a reference to the charge under paragraph (h); and(ii)any reference to the member is to be read as a reference to the spouse; and(j)the charge under paragraph (h) —(i)is in addition to any charge under section 21(1) or 21A(1) on any estate or interest in the immovable property to secure the repayment of any money withdrawn from the Fund (for all or any of the purposes referred to in section 21(1) or 21A(1)) by any person other than the member (including the whole or such part, as the Board may determine, of the interest that would have been payable thereon if the withdrawal had not been made);(ii)is subject to all statutory rights and charges of any public authority over the immovable property; and(iii)despite anything in the Land Titles Act 1993 or the Registration of Deeds Act 1988, in the absence of any agreement as to priority —(A)is not subject to any encumbrance registered or notified on or after the date of acceptance by the Registrar of the instrument to register or notify the charge referred to in paragraph (g); and(B)ranks equally with the charge referred to in paragraph (g), had it continued or if it continues to be in force, in the order of priority of interests in the immovable property.(2) Except in a case to which subsection (1) applies, where —(a)a member of the Fund has withdrawn any money standing to the member’s credit in the Fund for all or any of the purposes referred to in section 21(1) or 21A(1);(b)the immovable property in relation to which the money was withdrawn is purchased or owned by the member, whether solely or as a co‑purchaser, joint tenant or tenant‑in‑common (as the case may be) with one or more other persons; and(c)an order of court is made requiring the transfer or sale of the member’s estate or interest in the immovable property to any person,the following apply:(d)any charge under section 21(1) or 21A(1) on any estate or interest in the immovable property continues in force until, and the member, the person referred to in paragraph (c) or any other person having an interest in the immovable property is entitled to have the charge cancelled in the event that, all moneys secured by the charge —(i)have been repaid to the Fund; or(ii)are no longer required by any regulations made under section 77(1) to be repaid to the Fund; and(e)despite paragraph (d), where the Board is satisfied of the occurrence of any event prescribed in any regulations made under section 77(1) for the purposes of this paragraph, the member, the person referred to in paragraph (c) or any other person having an interest in the immovable property may, with the approval of the Board, have the charge cancelled.

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