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The Individual Savings Account (Amendment) Regulations 2023
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- UK Statutory Instruments
- 2023 No. 264
- Regulation 3
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Amendment of regulation 2
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3.—(1) In regulation 2(1)(a) (interpretation)(1), for the definition of “dormant account” substitute—
““dormant account” means an account which contains a “relevant dormant asset” within the meaning given in section 39(2) of the Finance Act 2008(2), omitting the words “is to be, or”;”.
(2) In regulation 2(1)(b), in the definition of “recognised UCITS”(3)—
(a)after sub-paragraph (a) omit “or”, and
(b)after sub-paragraph (b) insert—
“; or
(c)a recognised scheme in accordance with section 271A of the Financial Services and Markets Act 2000(4).”.
(1)
The definition of “dormant account” was inserted by S.I. 2011/22.
(2)
2008 c. 9. Section 39 was substituted by paragraph 2 of Schedule 6 to the Finance Act 2022 (c. 3).
(3)
The definition of “recognised UCITS” was amended by S.I. 2019/325 and was substituted by S.I. 2019/689.
(4)
2000 c. 8. Section 271A was inserted by Schedule 9 to the Financial Services Act 2021 (c. 22).
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