—(1) No approved person shall —
accept any payment out of or collude with any trustee of a Children Development Account to make withdrawals from the Account for any purpose other than that specified in regulation 9(1);
cause or make withdrawals from a Children Development Account without the approval or authorisation of the trustee of that Account; or
cause or make withdrawals from a Children Development Account after he has ceased to be an approved person.
(2) Any person who contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.