Part 6Exempt income

Chapter 3Income from individual investment plans

695Investment plans

1

Investment plan regulations may specify the kind of investments which may be made under a plan or which may be made by particular descriptions of individuals under a plan.

2

They may—

a

provide for a plan in the form of an account, and

b

authorise the ways in which the subscriptions to an account are to be invested.

3

They may—

a

provide that plans are to be such as are approved by the F2the Commissioners for Her Majesty’s Revenue and Customs, and

b

specify the circumstances in which approval may be granted and withdrawn.

4

They may—

a

provide for plans to be treated as being of different kinds, according to criteria set out in the regulations,

b

provide for the F1Commissioners to register a plan as being of a particular kind, and

c

make different provision about different kinds of plan.