(1) Subject to this Act, the maximum amount of early childcare supplement payable under section 223A in respect of each qualified child shall not exceed €498 in any year, payable in equal monthly instalments of €41.50.
(2) Early childcare supplement shall be payable in respect of the month following the month of the birth of the child and shall continue to be payable up to and including the month in which the child attains the age of 5 years.
(3) Early childcare supplement shall be paid monthly in arrears and the final payment shall be in respect of the month in which the child attains the age of 5 years.
(4) Regulations which may be made under section 242(1)(a) providing for the time and manner of payment of early childcare supplement shall be subject to the consent of the Minister for Finance and the Minister for Health and Children.