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The Individual Savings Account (Amendment No. 2) Regulations 2011
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- UK Statutory Instruments
- 2011 No. 1780
- Regulation 20
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Amendments to the Individual Savings Account Regulations 1998
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20. In paragraph (2) of regulation 14 (account manager – qualifications and Board’s approval)—
(a)after sub-paragraph (a) insert—
“(aa)if the person intends to be an account manager in relation to a junior ISA account, the person must undertake to the Board to—
(i)publicise (and update where appropriate) statements of the minimum amount which may be subscribed to a junior ISA account on a single occasion, and the permitted means of payment of subscriptions; and
(ii)inform persons proposing to make a subscription to a junior ISA account (other than the named child) that the subscription is a gift to the child;”; and
(b)in sub-paragraph (c) for “section 43” substitute “sections 42 and 43”.
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