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The Individual Savings Account (Amendment) Regulations 2024

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Amendment of regulation 12

This section has no associated Explanatory Memorandum

19.  In regulation 12 (conditions for application to open an account that is not a junior ISA account or a Lifetime ISA)—

(a)for paragraph (1) substitute—

(1) An application by an individual to open an account must—

(a)be made to an account manager in a statement, and

(b)meet the conditions in paragraphs (2), (3) and (4).;

(b)in paragraph (3)—

(i)in sub-paragraph (b) for “in which the applicant subscribes to the account” substitute “until the account is closed”;

(ii)omit sub-paragraphs (d) and (e);

(iii)in sub-paragraph (f) for “16” substitute “18”;

(iv)omit sub-paragraph (fa);

(c)omit paragraph (11A).

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