Parliament Act no. 5 of 30 November 2009 on the abolition of child savings scheme.
Modified repeals, hovedlov replaces information
§ 1. The beneficiary's claim on children's savings pool, including any supplements, converted to a regular bank account of the legitimate per. 31 December 2009. This amount is considered elevated from children's savings pool by conversion.
Subsection. 2. If the recipient has a bank account, the amount is transferred to the already established account.
Subsection. 3. granting supplementary, see. § 2 to the beneficiary's claim on children's savings pool prior to the conversion.
Subsection. 4. Child savings pool closed down 1 January 2012 and the remaining balance in children's savings pool accrue to the Treasury.
§ 2. 50 percent of a eventueltoverskud used to supplement (return) of the beneficiary's claim on children's savings.
§ 3. The Government is authorized to enter into an agreement with the administrator of the settlement and payment of children's savings pool, including on the implementation of measures if a child's residence is not immediately identifiable.
Entry into force
§ 4. The Greenland Parliament Act shall enter into force on 31 December 2009.
Subsection. 2. At the same time repealed Parliament Act no. 13 of 2 November 2006 and Executive Order no. 23 of 1 December 2006.
Greenland, November 30, 2009