Singapore legislation

Clause 2

of Child Development Co-Savings (Amendment) Bill

Clause 2

Amendment of section 3

Section 3 of the Child Development Co-Savings Act (called in this Act the principal Act) is amended —

(a)

by deleting the words “under the Scheme whereby the Government will make contributions, to the bank account of a child who is eligible for that arrangement, equal to the contributions made by or on behalf of any parent of the child” in subsection (1)(a);

(b)

by inserting, immediately after paragraph (a) of subsection (1), the following paragraph:“(aa)to provide financial assistance for the development of any other child through a co‑savings arrangement;”;

(c)

by deleting the words “the co-savings arrangement referred to in paragraph (a)” in subsection (1)(c) and substituting the words “a co‑savings arrangement”;

(d)

by deleting the words “the co-savings arrangement referred to in subsection (1)(a)” in subsection (2)(c) and substituting the words “a co‑savings arrangement”; and

(e)

by inserting, immediately after subsection (2), the following subsection:“(3) In this section, “co-savings arrangement”, in relation to a child, means an arrangement whereby the Government makes contributions to the bank account of a child eligible for that arrangement, equal to the contributions made by or on behalf of any parent of the child.”.

Read in full context — Child Development Co-Savings (Amendment) Bill →