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Changes over time for: Section 4ZB
Timeline of Changes
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Status:
Point in time view as at 06/04/2020.
Changes to legislation:
The Individual Savings Account Regulations 1998, Section 4ZB is up to date with all changes known to be in force on or before 28 October 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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[Subscriptions to a junior ISA accountU.K.
4ZB.—(1) Any person may subscribe to a junior ISA account provided the overall amount subscribed by that person and any other person for any year in respect of the same named child does not exceed [£9,000].
(2) An amount paid to a junior ISA account in excess of the amount mentioned in paragraph (1) is not an amount subscribed to a junior ISA account and must not be held in that account.
(3) A single subscription for an amount equal to the amount mentioned in paragraph (1) or any number of smaller amounts that, when aggregated, do not exceed the amount mentioned in paragraph (1), may be made in respect of the same named child—
(a)to a cash account held by that child,
(b)to a stocks and shares account held by that child, or
(c)in any proportion between such accounts.
(4) No subscription may be made to a cash account that is a junior ISA account held by a named child where—
(a)the balance in the account is less than one penny; and
(b)that child holds another cash account opened pursuant to a junior ISA application described in regulation 12A after the time when the account mentioned in sub-paragraph (a) was opened.
(5) No subscription may be made to a stocks and shares account that is a junior ISA account held by a named child where—
(a)the balance in the account is less than one penny; and
(b)that child holds another stocks and shares account opened pursuant to a junior ISA application described in regulation 12A after the time when the account mentioned in sub-paragraph (a) was opened.]
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