Singapore legislation

Clause 5

of Child Development Co-Savings (Amendment) Bill

Clause 5

Amendment of section 7

Section 7(2) of the principal Act is amended —

(a)

by inserting, immediately after the word “made” in paragraph (a), the words “, or provide for the circumstances in which the Minister may appoint an approved person without such applications being made”;

(b)

by deleting paragraph (b) and substituting the following paragraph: “(b)provide for the refund of any payment made to an approved person under the Scheme (including the circumstances for refund and the manner of refund);”;

(c)

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

(d)

by inserting, immediately after the words “the Minister to” in paragraph (e), the words “suspend or”; and

(e)

by deleting the full‑stop at the end of paragraph (e) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(f)empower a Director to require an approved person to appoint an auditor to conduct an audit of the approved person’s compliance with this Act, its regulations or any terms and conditions of approval applicable to that person, and to make provision for other matters with respect to such audit.”.