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The Child Trust Funds (Amendment) Regulations 2020

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Amendment of the Child Trust Funds Regulations 2004

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3.  In regulation 2(1) (interpretation)—

(a)in sub-paragraph (b), insert at the appropriate place—

“matured CTF account” has the meaning given by regulation 13B(2)(a)(1);.

(b)in sub-paragraph (c), for the definition of “recognised UCITS”(2) substitute—

“recognised UCITS” means—

(a)

a UCITS within the meaning given by section 236A(3) of the Financial Services and Markets Act 2000 which is a recognised scheme for the purposes of Part 17 of that Act; or

(b)

an undertaking established in Gibraltar which is a UCITS under the law of Gibraltar which implemented Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities;.

(1)

Regulation 13B is inserted by these regulations.

(2)

The definition of “recognised UCITS” was inserted by S.I. 2010/582 and is substituted by S.I. 2019/713 which is not yet in force.

(3)

2000 c.8. Section 236A was inserted by S.I. 2019/325.

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