In forceAmended2020 Revised Edition

Contents

Child Development Co-Savings Act 2001 · 2020 Revised Edition · Part 2 · Child Development Co-Savings Scheme

7. Approved persons

Amended

Last amended by an amending law of 2023. 2 amendments in all.

(1)

The Minister may make regulations to approve a person as an approved person for the purposes of, and connected with, the Scheme.

(2)

Without limiting subsection (1), the regulations may —

(a)

prescribe the manner in which applications for approval as an approved person may be made, or provide for the circumstances in which the Minister may appoint an approved person without such applications being made;

(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)

require the approved person to execute a security bond as a precondition for such approval;

(d)

specify any other terms and conditions subject to which the approval of the Minister is granted;

(e)

provide for the circumstances in which approval granted to a person is revoked, and other circumstances in which the approval may be suspended or revoked by the Minister;

(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; and

(g)

specify duties of officers and employees of an approved person.