Singapore legislation
Regulation 9A
Regulation 9A
Refunds to Child Development Account
Subregulation 1
Where any payment made under regulation 9(1)(a) or (aa) is refundable or made in error, an approved person in respect of the approved institution concerned is liable to refund such payment to any of the following accounts by the time required under paragraph (1A) or (1B), whichever is applicable:
the member’s Child Development Account;
if at the time of the refund that Account has been closed in accordance with these Regulations or by a managing agent as permitted by the terms and conditions of the service agreement applicable to the managing agent, the new Child Development Account of the member;
if at the time of the refund that Account has been closed in the circumstances referred to in sub-paragraph (b) and the member no longer has any Child Development Account, such other account for the member’s benefit as the Director may determine.
Subregulation 1A
Subject to paragraph (1B), the approved person must make the refund under paragraph (1) not later than one month after the date on which an agreement is reached between the trustee of the member’s Child Development Account and the approved person as to the amount to be refunded.
Subregulation 1B
If the approved person is given a written notice of any suspension of approval under regulation 11A(4), or revocation of appointment or approval under regulation 11B(4), the approved person must make the refund under paragraph (1) before the date of suspension or revocation (as the case may be) specified in that written notice.
Subregulation 2
Where any premium paid to an insurer in respect of an integrated medical insurance plan has been paid from moneys standing to the credit of a member in the member’s Child Development Account, and that insurer is liable to make any refund of that premium, that insurer shall, within one month from the date on which the insurer becomes liable, under the Central Provident Fund (Private Medical Insurance Scheme) Regulations 2005 (G.N. No. S 428/2005), to make the refund, arrange for that refund to be credited directly into —
that Account;
if at the time of the refund that Account has been closed in accordance with these Regulations or by a managing agent as permitted by the terms and conditions of the service agreement applicable to the managing agent, the new Child Development Account of the member; or
if at the time of the refund that Account has been closed in the circumstances referred to in sub-paragraph (b) and the member no longer has any Child Development Account, such other account for the member’s benefit as the Director may determine.
Subregulation 3
An insurer in respect of a medisave-approved plan —
to which any moneys standing to the credit of a member in the member’s Child Development Account have been paid as premium for the medisave‑approved plan; and
which is liable to make any refund of that premium under the MediShield Life Scheme (Private Medical Insurance Scheme) Regulations 2015 (G.N. No. S 623/2015),must, within one month from the date on which the insurer becomes liable to make the refund in sub‑paragraph (b), arrange for that refund to be credited directly into —
that Account;
if at the time of the refund that Account has been closed in accordance with these Regulations or by a managing agent as permitted by the terms and conditions of the service agreement applicable to the managing agent, the new Child Development Account of the member; or
if at the time of the refund that Account has been closed in the circumstances referred to in sub-paragraph (ii) and the member no longer has any Child Development Account, such other account for the member’s benefit as the Director may determine.