The Individual Savings Account Regulations 1998

[F1 Notices required by regulation 5D U.K.

5DFB.— (1) Where an account manager (B) has—

(a) been notified by S that S wishes to make a subscription under regulation 5DDA; or

(b) received an application from S to make such a subscription;

that account manager shall, within the period of 30 days beginning with the day on which the notification or application is received, give to the deceased’s account manager (A) a notice containing the information specified in paragraph (2).

(2) The information specified in this paragraph is—

(i) the name and address of the deceased;

(ii) the deceased’s date of birth and date of death;

(iii) the deceased’s National Insurance number, if known;

(iv) S’s name and address;

(v) a statement that B has either received an application from S to make a subscription under regulation 5DDA or been notified that S wishes to make such a subscription; and

(vi) a statement that B has, subject to relevant checks, accepted that application or, where B has been notified that S wishes to make such a subscription, that B will accept such an application subject to relevant checks.

(3) Where A receives from B a notice under paragraph (1), A shall, within the period of 30 days beginning with the day on which that notification is received, give B a notice containing—

(i) the deceased’s full name;

(ii) the full address of the deceased’s permanent residence at the date of death;

(iii) the deceased’s date of birth and date of death;

(iv) the deceased’s National Insurance number, if known;

(v) the amount determined in accordance with paragraph (3) of regulation 5DDA;

(vi) a declaration that, in the permitted period, S has not made to an account held by A, any subscription permitted by regulation 5DDA in respect of the amount determined in accordance with paragraph (3) of that regulation;

(vii) an undertaking that, other than in the case of an authorisation given under paragraph (6) of regulation 5DDA, A will not accept a subscription made by S in respect of the amount determined in accordance with paragraph (3) of that regulation; and

(viii) an undertaking that, other than in the case of an authorisation given under paragraph (6) of regulation 5DDA, A will not provide the information and declarations in this paragraph to another account manager in respect of the amount determined in accordance with paragraph (3) of that regulation.

(4) In this regulation relevant checks means checks by B in relation to the information and declarations provided by S pursuant to regulations 5DF and 5DFA.]

Textual Amendments

F1 Regs. 5DFA-5DFD inserted (6.4.2015) by The Individual Savings Account (Amendment No. 2) Regulations 2015 (S.I. 2015/869), regs. 1, 9