Commentary Section 10: Further contributions by Inland Revenue
47.This section gives the Treasury power to make regulations requiring the payment of Government contributions to account providers for children holding CTF accounts. Subsection (1) provides for these children to be eligible children as defined in this Act or a sub-set of those children specified in the regulations and for the amount of the contribution to be set by regulations.
48.Subsection (2) defines the circumstances in which such contributions would be made as the children reaching an age specified in the regulations or any other condition specified in the regulations. The Government has published its proposal that the first of these payments will be when eligible children turn seven. The first payments will be due in 2009 and the amounts will be published nearer the time when the appropriate regulations will also be made.
49.Subsection (3) secures that the regulations must include provisions for informing account providers of the amounts due, for the account providers to claim the payments and to credit CTF accounts with the payments.
50.Child benefit is not payable for children held in legal custody. Subsection (4) secures that children held in legal custody but otherwise eligible will not be excluded from receiving payments made under this section.