The central competent authority may designate a financial institution to handle child and youth savings accounts (hereafter referred to as the account handling institution).
The central competent authority shall open an account with the account handling institution, which shall serve as the master account of child and youth savings accounts for the purpose of receiving and depositing opening deposits, self-deposits, and government disbursements. A child and youth savings account shall be opened and settled via the master account.
The account handling institution shall manage child and youth savings accounts under the aforesaid master account by dividing the accounts by households according to the list of account applicants provided by the central competent authority.
For the purpose of facilitating self-deposits, the central competent authority may announce and designate non-financial institutions to help receive the self-deposits made by account applicants.

The competent authorities at municipality/city/county levels shall, within one month from the date when they become aware of any child or youth with registered residence within their jurisdiction who meets any of the criteria set out in Article 6, notify their legal representative or any of their closest relatives of the need to apply for opening a child and youth savings account.
To apply for the aforesaid account, one shall complete an application form and submit the same, with the amount of monthly self-deposits selected, to the local competent authority at municipality/city/county levels. After conducting a review and granting approval, the local competent authority shall record the application in a register and report the same to the central competent authority, which shall request the account handling institution to open a child and youth savings account under the master account set forth in Paragraph 2 of Article 10 and make an opening deposit.
The central competent authority may announce the selectable amounts of monthly self-deposits and the maximum amount of the opening deposit and annual self-deposits. The maximum amount of the opening deposit and annual self-deposits may be adjusted by the central competent authority every four years according to the announcement made by the central budget, accounting, and statistics authority that the accumulated growth rate of last year’s consumer price index was five percent or more compared to the consumer price index for the year preceding the prior adjustment. The adjusted amount shall be rounded to the nearest thousand.
In the event that the maximum amount of annual self-deposits, as set forth in the preceding paragraph, has been adjusted, the legal representative or any of the closest relatives of the account applicant may apply to the competent authorities at municipality/city/county levels for changing the selected amount of monthly self-deposits. After granting approval, the competent authorities shall record the said application in a register and report the same to the central competent authority, which shall request the account handling institution to change the amount.
Starting from the second year after a child and youth savings account is opened, the legal representative or any of the closest relatives of the account applicant may apply to change the selected amount of monthly self-deposits depending on the financial condition of an individual or the family. Only one change is allowed each year.

The account applicant, their legal representative, or any of their closest relatives shall, each month, deposit an amount same as the selected amount of monthly self-deposits into the child and youth savings account, until the account applicant reaches 18 years of age. In case of special circumstances, the said individuals may make deposits before the end of each year.
The account applicant shall not withdraw savings from the child and youth savings account during the period of self-deposit set forth in the preceding paragraph, except under the circumstances specified in Articles 17 and 18.

The central competent authority shall, on an annual basis, compute and assess the amount of self-deposits in every child and youth savings account and deposit the same amount of government disbursements.
The total amount of the aforesaid government disbursements allocated in the first year after an account applicant opens an account, including the opening deposit specified in Paragraph 2 of Article 11, shall not exceed the maximum amount of annual self-deposits announced in accordance with Paragraph 3 of Article 11.
The central competent authority may provide rewards and incentives for account applicants who have made deposits for a certain period, so as to encourage them to continue making deposits.
Regulations governing the aforesaid deposit period, recipients of rewards and incentives, the scope of rewarding, and other relevant matters shall be established by the central competent authority.

The child and youth savings account interest shall be calculated at the floating board rate for one-year time savings deposits, as set by the account handling institution, and shall be exempt from individual income tax. The account handling institution is not required to withhold and declare income tax.
The savings interest incurred from the 18th birthday of the account applicant until the day when the account is settled and savings are withdrawn shall be calculated at the floating board rate for demand savings deposits, as set by the account handling institution, and shall be subject to individual income tax. The account handling institution shall withhold and declare income tax when paying such interest.

The account handling institution shall, in the month following the end of each quarter, compile information on the self-deposits, government disbursements, interest, and other matters in relation to child and youth savings accounts and provide such information to the central competent authority. The central competent authority shall make such information known to the account applicants.