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Other contributions to member’s Child Development Account by or on behalf of member’s parent

Child Development Co-Savings Regulations

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—(1) Any parent of a member, or any person on behalf of the parent, may, from time to time after a Child Development Account is opened for the member and before 1st January in the year in which the relevant anniversary of the member’s date of birth falls, deposit one or more sums (each not being a co-investment sum) into the Account.(2) Where the parents of a member have obtained a judgment for the dissolution or annulment of their marriage or judicial separation, and the court dividing the matrimonial assets between the parents pursuant to the divorce, annulment or judicial separation proceedings has ordered the transfer of any sum (being a matrimonial asset) into the member’s Child Development Account, that sum may be deposited into the Account at any time after the Account is opened for the member and before 1st January in the year in which the relevant anniversary of the member’s date of birth falls.(3) Subject to regulation 6(3) and (3A), a sum deposited into a co-savings member’s Child Development Account under paragraph (2) shall be treated as a co-investment sum contributed by or on behalf of any parent of the member under regulation 6(1).(4) Except as provided in paragraph (3), a sum deposited into a member’s Child Development Account under paragraph (2) shall be treated as a sum contributed by or on behalf of any parent of the member under paragraph (1).(5) In this regulation, “relevant anniversary”, in relation to a member born on or after 1 January 2009, means the thirteenth anniversary.

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