—(1) Any parent of a member, or any person on behalf of the parent, may, at any time after a Children Development Account is opened for the member, deposit one or more co-investment sums into the Account.
(2) Subject to paragraph (3), the Government shall contribute in respect of each member, a co-payment sum equivalent to the co-investment sum contributed by the parent of the member or any person on behalf of the parent under paragraph (1).
(3) The co-payment contribution by the Government under paragraph (2) —
shall be payable —
for the first year of the member’s birth, or in the case of a member who attains citizenship after the first year of his birth, for the year in which he attains citizenship; and
for each subsequent year until the member attains the age of 6 years;
shall be of an amount equal to the co-investment sum deposited into the member’s Children Development Account by his parent or any person on behalf of the parent during the periods referred to in the second column of the Schedule;
shall be subject to a maximum of —
$1,000 per year in the case of a member who is a second child; and
$2,000 per year in the case of a member who is a third child; and
shall be paid into the member’s Children Development Account within the periods referred to in the third column of the Schedule.