The Individual Savings Account Regulations 1998

[F1Special application of regulations 5DB, 5DD, 5DF and 5DH in respect of a Lehman Brothers investmentU.K.

5DJ.  In respect of a Lehman Brothers investment—

(a)regulation 5D shall apply as if after paragraph (2) there is added—

“(3) No defaulted investment subscription may be made in respect of a defaulted investment payment made or treated as made on 8th August 2012 other than a single defaulted investment payment treated as made by virtue of regulation 5DL(2).”;

(b)regulation 5DB shall apply as if paragraph (b) provided that a defaulted investment subscription must not exceed the amount of the defaulted investment payment determined in accordance with regulation 5DL;

(c)regulation 5DD is subject to regulation 5DL(2);

(d)regulation 5DF(1)(b) shall apply as if the information specified by it is—

(i)the information specified in paragraphs (i)-(iv) of that regulation;

(ii)the value of the defaulted investment at the opening of trading on the London Stock Exchange on 15th September 2008;

(iii)the date and amount of any earlier defaulted investment subscriptions in respect of the Lehman Brothers investment in question made before the making of the defaulted investment subscription;

(iv)the name and address (including postcode) of the account manager to whom any subscription referred to in sub-paragraph (iii) of this paragraph was made;

(e)regulation 5DH—

(i)shall apply as if the period mentioned in that regulation were the period commencing on 16th September 2008 and ending on 7th August 2012;

(ii)is subject to regulation 5DL(2).]

Textual Amendments