The Individual Savings Account (Amendment) Regulations 2008

Amendment of regulation 7 (qualifying investments for a stocks and shares component)

6.—(1) Amend regulation 7(1) as follows.

(2) In paragraph (2), in each of sub-paragraphs (b)(iii) and (d), for “paragraphs (7) and” substitute “paragraph”.

(3) Omit paragraph (2)(e).

(4) In paragraph (2)(h)—

(a) in sub-paragraph (i) for “a savings-related share option scheme” substitute “an approved SAYE option scheme”;

(b) in sub-paragraph (iii) for “employee share ownership plan” substitute “SIP”.

(5) Omit paragraph (7).

(6) In paragraph (8)—

(a) in the words before sub-paragraph (a) for “trust, scheme or UCITS, or investments subject to the trusts of the scheme, as the case may be,” substitute “investment trust”;

(b) in the words after sub-paragraph (b) for the words from “trust,” to the end substitute “investment trust”.

(7) Omit paragraph (9).

(8) In paragraph (10)(a) for “a savings-related share option scheme” substitute “an approved SAYE option scheme”.

(9) In paragraph (14) omit “(e),” and for “, (g) or (ga)” substitute “or (g)”.

(1)

Regulation 7 was relevantly amended by S.I. 2000/2079, 2001/3629; 2003/2747, 2005/2561 and 2005/3350.