Child Development Co-Savings (Amendment No. 2) Regulations 2016

Status:

Published in Subsidiary Legislation Supplement
on 30 Aug 2016

No. S 407

Child Development Co-Savings Act

(CHAPTER 38A)

Child Development Co-Savings (Amendment No. 2)
Regulations 2016

In exercise of the powers conferred by sections 3 and 20 of the Child Development Co‑Savings Act, the Minister for Social and Family Development makes the following Regulations:

Citation and commencement

1.—(1) These Regulations are the Child Development Co‑Savings (Amendment No. 2) Regulations 2016 and, except for regulation 4(b) and (c), come into operation on 1 September 2016.

(2) Regulation 4(b) is deemed to have come into operation on 1 January 2015.

(3) Regulation 4(c) is deemed to have come into operation on 13 July 2015.

Amendment of regulation 2

2. Regulation 2 of the Child Development Co‑Savings Regulations (Rg 2) (called in these Regulations the principal Regulations) is amended —

(a)

by deleting paragraph (b) of the definition of “adoptive parent” and substituting the following paragraph:

“(b)	in relation to a child who is adopted by a sole adopter, the sole adopter;”;

(b)

by deleting the words “section 3(1)(a)” in the definition of “co‑savings arrangement” and substituting the words “section 3(3)”; and

(c)

by deleting the definition of “insurer” and substituting the following definition:

“ “insurer” means an insurer that is licensed under the Insurance Act (Cap. 142);”.

Amendment of regulation 4A

3. Regulation 4A of the principal Regulations is amended —

(a)

by inserting, immediately before the words “his mother” in paragraph (2A)(ii), the words “in the case of a child mentioned in sub‑paragraph (a) who is born before 1 September 2016 and whose estimated delivery date for his mother’s confinement is before that date,”;

(b)

by inserting, immediately after the words “Subject to” in paragraph (4), the words “paragraph (4A) and”; and

(c)

by inserting, immediately after paragraph (4), the following paragraph:

“(4A) The condition in paragraph (4)(b) need not be satisfied if the child mentioned in paragraph (4) —

(a)	is born on or after 1 September 2016, or born before that date but whose estimated delivery date for his mother’s confinement is on or after that date; and
(b)	is adopted on or after that date.”.

Amendment of regulation 4B

4. Regulation 4B of the principal Regulations is amended —

(a)	by deleting the words “where the child is adopted by a man who is divorced” in paragraph (2)(b) and substituting the words “where the sole adopter of the child is a man (but not a widower)”;
(b)	by inserting, immediately after the words “the child shall” in paragraph (3), the words “, if the child is born before 1 January 2015,”;
(c)	by deleting paragraphs (3A) and (3B); and
(d)	by inserting, before the words “his mother” in paragraph (6)(c), the words “before 1 September 2016,”.

Amendment of regulation 5

5. Regulation 5 of the principal Regulations is amended by inserting, immediately after paragraph (3B), the following paragraph:

“(3C) Despite paragraph (3), where the parents of a child are not lawfully married to each other at the time of the application, only the parent who has care and control of the child may make the application for the child to be a co‑savings member of the Scheme.”.

Amendment of regulation 10

6. Regulation 10 of the principal Regulations is amended —

(a)

by deleting the word “and” at the end of paragraph (2)(a)(i)(B);

(b)

by inserting the word “and” at the end of sub‑paragraph (C) of paragraph (2)(a)(i), and by inserting immediately thereafter the following sub-paragraph:

“(D)

in the case of a member to whom Part IV or V of the First Schedule applies, the total of all contributions, if any, mentioned in regulation 6A(1) and (2) (each not being a co‑investment sum) not exceeding the amount specified in the Third Schedule corresponding to the time the member becomes a citizen of Singapore;”;

(c)

by inserting, immediately after paragraph (4), the following paragraph:

“(4A) Despite paragraphs (2), (3B) and (3C), any co‑payment contribution that is not paid into a co‑savings member’s Child Development Account before the Account is closed, must be paid into the member’s PSE account as soon as practicable.”;

(d)

by deleting the word “and” at the end of paragraph (7)(b); and

(e)

by deleting the full‑stop at the end of sub‑paragraph (c) of paragraph (7) and substituting the word “; and”, and by inserting immediately thereafter the following sub‑paragraph:

“(d)	a reference to the contributions mentioned in regulation 6A(1) and (2) (each not being a co‑investment sum) includes such contributions paid into any previous Child Development Account of that member and transferred to the firstmentioned Account.”.

New Third Schedule

7. The principal Regulations are amended by inserting, immediately after the Second Schedule, the following Schedule:

“THIRD SCHEDULE

Regulation 10(2)(a)(i)(D)

MAXIMUM AMOUNT TO BE TRANSFERRED TO MEMBER’S PSE ACCOUNT UNDER REGULATION 10(2)(a)(i)(D)

First column

Second column

Time when member
becomes citizen of
Singapore

Maximum amount to be transferred to member’s PSE account

At birth or before 1st anniversary of member’s date of birth

$3,000

On or after 1st anniversary of member’s date of birth but before 2nd anniversary thereof

$2,750

On or after 2nd anniversary of member’s date of birth but before 3rd anniversary thereof

$2,500

On or after 3rd anniversary of member’s date of birth but before 4th anniversary thereof

$2,250

On or after 4th anniversary of member’s date of birth but before 5th anniversary thereof

$2,000

On or after 5th anniversary of member’s date of birth but before 6th anniversary thereof

$1,750

On or after 6th anniversary of member’s date of birth but before 7th anniversary thereof

$1,500

On or after 7th anniversary of member’s date of birth but before 8th anniversary thereof

$1,250

On or after 8th anniversary of member’s date of birth but before 9th anniversary thereof

$1,000

On or after 9th anniversary of member’s date of birth but before 10th anniversary thereof

$750

On or after 10th anniversary of member’s date of birth but before 11th anniversary thereof

$500

On or after 11th anniversary of member’s date of birth but before 12th anniversary thereof

$250

”.

[G.N. Nos. S 603/2004; S 424/2005; S 769/2005; S 179/2007; S 644/2007; S 324/2008; S 550/2008; S 644/2009; S 573/2010; S 226/2011; S 251/2012; S 545/2012; S 594/2012; S 449/2013; S 624/2013; S 430/2015; S 453/2015; S 628/2015; S 849/2015; S 124/2016]

Made on 29 August 2016.

CHEW HOCK YONG

Permanent Secretary,
Ministry of Social and Family Development,
Singapore.

[MSF 132-20-359-V16; AG/LEGIS/SL/38A/2015/1 Vol. 1]

Search within Legislation