06 Mar '15, 3am

Am I an adult yet?

—(1) Where a member has entered into an agreement to purchase or acquire a residential property or has obtained a housing loan or both whether before or after 1st June 1981, the Board may, on application being made by the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn by him and used for the payment of the purchase price or part thereof of the residential property or the repayment of the housing loan or both, as the case may be.[S 703/2007 wef 01/01/2008] (2) A member who has obtained a housing loan shall not be entitled to make any withdrawals under these Regulations for the repayment of the loan unless the loan is for a fixed term or is granted on an overdraft basis and the repayment of the loan is secured by a mortgage on the residential property. (3) N...

Full article: http://statutes.agc.gov.sg/aol/search/display/view.w3p;pa...

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