The Individual Savings Account (Amendment No. 2) Regulations 2017

Regulation 2

3.—(1) Amend regulation 2 (interpretation) as follows.

(2) In paragraph (1)—

(a) in the definition of “account investment”(1)—

(i) for “or an innovative finance component” substitute “, an innovative finance component or a Lifetime ISA component”, and

(ii) after “8” insert “, 8ZA”(2),

(b) after the definition of “CTA 2010”(3) insert—

““current year payments” has the meaning given in regulation 10A(3)(4);”,

(c) after the definition of “eligible child”(5) insert—

““eligible conveyancer” has the meaning given in paragraph 7 of the Schedule;”,

(d) after the definition of “gilt-edged securities” insert—

““government bonus” has the meaning given in the Schedule;”,

(e) after the definition of “lender”(6) insert—

““Lifetime ISA” has the meaning given in regulation 4(1ZB)(7);”,

““Lifetime ISA payment limit” has the meaning given in regulation 4ZA(1A);”,

““Lifetime ISA qualifying individual” has the meaning given in regulation 10A;”, and

(f) after the definition of “plan shares”(8) insert—

““qualifying addition” has the meaning given in the Schedule;”.

(3) In the Table in paragraph (2) after the entry for “Qualifying investments for a cash component” insert—

“Qualifying investments for a Lifetime ISA component

8ZA”

(1)

The definition of “account investment” was amended by S.I. 2016/364.

(2)

Regulation 8ZA is inserted by these Regulations.

(3)

The definition of “CTA 2010” was inserted by S.I. 2012/1871.

(4)

Regulation 10A is inserted by these Regulations.

(5)

The definition of “eligible child” was inserted by S.I. 2011/1780.

(6)

The definition of “lender” was inserted by S.I. 2016/364.

(7)

Regulations 4(1ZB) and 4ZA(1A) are inserted by these Regulations.

(8)

The definition of “plan shares” was inserted by S.I. 2008/704.