The Child Trust Funds Regulations 2004

Fortnightly claim and financial returns U.K.

30.—(1) In this regulation—

“fortnightly period” means a period—

(a)

beginning on the 1st, and ending on the 15th, day of a calendar month, or

(b)

beginning on the 16th, and ending on the last, day of a calendar month;

“first return period”, in relation to account providers approved with effect from a date between 1st January 2005 and 28th February 2005, means the period beginning on the date on which the approval takes effect and ending on 28th February 2005;

“second return period”, in relation to account providers approved with effect from a date between 1st January 2005 and 31st March 2005, means the period beginning on the later of 1st March 2005 and the date on which the approval takes effect, and ending on 31st March 2005;

“initial return period”, in relation to account providers approved later, means the period—

(a)

beginning on the date on which the approval takes effect, or the appointed day (whichever is the later), and

(b)

ending simultaneously with the end of the current fortnightly period.

(2) The following provisions of this regulation apply to an account provider in relation to—

(a) that provider’s first, second or initial return period, and

(b) each succeeding fortnightly period (other than succeeding a first return period),

during which, or during any part of which, he acted as an account provider.

(3) Within—

(a) ten days of the end of a provider’s first return period (if any), and

(b) five days of the end of any other period mentioned in paragraph (2),

the account provider shall deliver by means of electronic communications to the Board, a return for that period, in a form specified by the Board.

(4) The return shall include a declaration of the information in paragraph (5), and a claim as mentioned in paragraph (6) (in each case, stated separately for each account, quoting the named child’s unique reference number and date of birth).

(5) The information is that, during that period—

(a) the account provider has opened an account in accordance with regulation 5F1 ...;

(b) the account provider has opened a Revenue allocated account in accordance with regulation 6;

(c) an account has been transferred to the account provider in accordance with regulation 21, and is held with the account provider at the end of the period; or

(d) an account has been closed, due to the named child dying under the age of 18 (and the date of death).

(6) The claim is—

(a) where paragraph (5)(a) or (b) applies, a claim for the initial contribution or special contribution due to the account in accordance with regulation 7(1) to (4); F2 ...

(b) where the Inland Revenue have informed the account provider that section 9 of the Act applies to the named child, a claim for the supplementary contribution due to the account in accordance with regulation 7(5) to (7)[F3 ; and

(c) where the Inland Revenue have informed the account provider that [F4 a further contribution is due for] the named child [F5 in accordance with regulation 7(10) or (10A)[F6 , regulation 7A, or regulation 7B(2) or (3)]], a claim for the further contribution due to the account in accordance with [F7 the relevant provision].]

(7) Paragraphs (5)(a) and (b) and (6)(a) and (b) shall apply notwithstanding any transfer of the account to another account provider under regulation 21, before the end of the period in question.

Textual Amendments

F1 Words in reg. 30(5)(a) omitted (7.2.2006) by virtue of The Child Trust Funds (Amendment) Regulations 2006 (S.I. 2006/199), regs. 1, 5

F2 Word in reg. 30(6) omitted (6.4.2005) by virtue of The Child Trust Funds (Amendment) Regulations 2005 (S.I. 2005/383), regs. 1, 5

F3 Reg. 30(6)(c) and preceding word added (6.4.2005) by The Child Trust Funds (Amendment) Regulations 2005 (S.I. 2005/383), regs. 1, 5

F4 Words in reg. 30(6)(c) substituted (6.4.2009) by The Child Trust Funds (Amendment) Regulations 2009 (S.I. 2009/475), regs. 1(1), 7(a)

F5 Words in reg. 30(6)(c) inserted (6.4.2009) by The Child Trust Funds (Amendment) Regulations 2009 (S.I. 2009/475), regs. 1(1), 7(b)

F6 Words in reg. 30(6)(c) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Child Trust Funds (Amendment No. 2) Regulations 2010 (S.I. 2010/836), regs. 1(1), 5

F7 Words in reg. 30(6)(c) substituted (6.4.2009) by The Child Trust Funds (Amendment) Regulations 2009 (S.I. 2009/475), regs. 1(1), 7(c)