Page:Children Development Co-Savings Act 2001.pdf/8

8 :(d) where the member is legally adopted by any person, be substituted with the adopter of the member;
 * (e) where the trustee is dead and the member has no other legal guardian, be substituted with the personal representative of the trustee;
 * (f) where the trustee is no longer able to act as trustee by reason that he is a mentally disordered person within the meaning of the Mental Disorders and Treatment Act (Cap. 178) and the member has no other legal guardian, be substituted with the person who has been appointed the committee of the person and estate of the trustee; and
 * (g) where the trustee is unable or unwilling to act as trustee for any other reason and the member has no other legal guardian, be substituted with the person nominated by the trustee and approved by the Minister to act in the place of the existing trustee.

(2) Notwithstanding subsection (1), the Minister may, if he considers it necessary, direct that a trustee be removed and substituted with such other person as the Minister may nominate.

(3) This section shall have effect notwithstanding anything to the contrary in the Trustees Act (Cap. 337).

Protection of benefits

5. For the avoidance of doubt, the ownership of any moneys paid into a member’s bank account by the Government or the parent of the member under the Scheme shall, with effect from the date of such payment, belong to the member absolutely and—
 * (a) the payment by the parent shall not constitute "matrimonial asset" within the meaning of section 112 of the Women’s Charter (Cap. 353);
 * (b) the payment by the parent shall not constitute a transaction at undervalue or an unfair preference under section 98 or 99 of the Bankruptcy Act (Cap. 20) or form part of the estate of a parent who has been adjudicated bankrupt; and
 * (c) the moneys in the bank account of the member shall not be assignable or liable to be attached, sequestered or levied upon for or in respect of any debt or claim.