On 25/05/2013,
you requested for the version in force on 25/05/2013
incorporating all amendments published on or before 25/05/2013.
The closest version currently available is that of 05/12/2012.
6.
—(1) Subject to paragraphs (3) and (3A), any parent of a co-savings member, or any person on behalf of the parent, may, from time to time after a Child Development Account is opened for the member and before 1st January in the year in which the relevant anniversary of the member’s date of birth falls, deposit one or more co-investment sums into the Account.
[S 424/2005 wef 01/07/2005]
[S 226/2011 wef 01/05/2011]
(2) Subject to paragraph (3), the Government shall contribute in respect of each co-savings 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).
[S 226/2011 wef 01/05/2011]
(3) Subject to paragraph (3A), each of the following aggregate amounts shall not exceed the relevant amount specified in the First Schedule corresponding to both the co-savings member’s birth order and the time that he becomes a citizen of Singapore:
(a)
the aggregate amount of all co-investment sums contributed by or on behalf of any parent of the co-savings member under paragraph (1);
(b)
the aggregate amount of all co-payment sums contributed by the Government under paragraph (2).
[S 226/2011 wef 01/05/2011]
[S 251/2012 wef 01/06/2012]
(3A) In any case where the aggregate amount of all co-investment sums contributed before 1st May 2011 under paragraph (1) exceeds the relevant amount referred to in paragraph (3) —
(a)
paragraph (3)(a) shall not apply; but
(b)
no additional co-investment sum shall be contributed on or after that date under paragraph (1).
[S 226/2011 wef 01/05/2011]
(3B) For the purposes of paragraph (3) —
(a)
Part I of the First Schedule shall apply to —
(i)
every co-savings member who is born before 1st January 2006; and
(ii)
every co-savings member who is born on or after 1st January 2006 but before 1 stJanuary 2007 and in respect of whose Child Development Account an election under regulation 10(3A)(a) has been made; and
(b)
Part II of the First Schedule shall apply to —
(i)
every co-savings member who is born on or after 1st January 2006 but before 1st January 2007, other than a co-savings member referred to in sub‑paragraph (a)(ii); and
(ii)
every co-savings member who is born on or after 1st January 2007.
(4) The Government shall, as far as practicable, pay a co-payment contribution under paragraph (2) into a co-savings member’s Child Development Account by the last day of the month immediately following the month in which the corresponding co-investment sum under paragraph (1) is deposited into the Account by or on behalf of the parent of the member.
[S 644/2007 wef 30/11/2007]
[S 226/2011 wef 01/05/2011]
(4A) Where it is not practicable for the Government to make a co-payment contribution under paragraph (2) within the time limited by paragraph (4), the Government shall pay the co-payment contribution into the co-savings member’s Child Development Account within such other period as the Minister may allow.
[S 644/2007 wef 30/11/2007]
[S 226/2011 wef 01/05/2011]
(4B) If the Account referred to in paragraph (4) has been closed under regulation 5A(4) at the time the Government is to pay the co-payment contribution, the Government shall pay the contribution into the new Child Development Account of the co-savings member.
[S 324/2008 wef 01/08/2008]
[S 226/2011 wef 01/05/2011]
(4C) If, at the time the Government is to pay the co-payment contribution, the Account referred to in paragraph (4) has yet to be closed pursuant to regulation 5A(4) but a new Account referred to in that regulation has been opened, the Government may pay the contribution into either of those Accounts.
[S 324/2008 wef 01/08/2008]
(5) Where the birth order of a co-savings member is re-determined under regulation 4B(6), any co-payment contribution by the Government which has not been paid in respect of the member shall be varied accordingly based on his re-determined birth order.
[S 550/2008 wef 31/10/2008]
[S 226/2011 wef 01/05/2011]
(6) In this regulation, “relevant anniversary” means —
(a)
the seventh anniversary, in the case of a member who is born before 1st January 2006; or
(b)
the thirteenth anniversary, in the case of a member who is born on or after 1st January 2006.