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Income Tax (Trading and Other Income) Act 2005

Section 704: Types of arrangements and providers

2699.This section sets out what types of arrangement may be linked savings arrangements. It provides definitions of each type of arrangement. These definitions are based on section 326 of and Schedule 15A to ICTA.

2700.Subsection (1) indicates that linked saving arrangements are either a “national savings arrangement” (defined insubsection (2)), or an “institutional arrangement”, that is, one provided by a financial institution (defined insubsections (3) to (6)). The main distinction between a national savings arrangement and an institutional arrangement is that the provider of an institutional arrangement must be authorised (see section 707). The Treasury may also impose requirements on an institutional arrangement before they certify it under section 705.

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