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The Individual Savings Account Regulations 1998

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  1. Introductory Text

  2. 1. Citation and commencement

  3. 2. Interpretation

  4. 2A.Meaning of account investor

  5. 2B.Meaning of junior ISA account

  6. 2C.Meaning of “registered contact” etc.

  7. 2D.Regulations that do not apply to junior ISA accounts

  8. 2E.Contracts entered into by or on behalf of a child who is 16 or over

  9. 3. Introductory

  10. 4. General conditions for accounts and subscriptions to accounts

  11. 4ZA.Subscriptions to an account other than a junior ISA account

  12. 4ZB.Subscriptions to a junior ISA account

  13. 4ZC.Inalienability of a junior ISA account

  14. 4ZD.Permitted withdrawals from a junior ISA account

  15. 4ZE.Permitted withdrawals from a junior ISA account where the named child is terminally ill

  16. 4A.Repair of certain incompatible account and excess subscriptions - accounts other than junior ISA accounts

  17. 4B.Closure of cash account that is not a junior ISA account prior to the opening of the same type of account to be disregarded once

  18. 4C.Removal of insurance components at 6th April 2005

  19. 4D.Removal of maxi-accounts, mini-accounts and TESSA only accounts at 6th April 2008

  20. 5A.Treatment of sums held in accounts managed by Icesave Bank

  21. 5B.Treatment of certain sums held in accounts managed by Keydata Investment Services Limited

  22. 5C.Treatment of certain sums held in dormant accounts

  23. 5. Transfers from matured tax-exempt special savings accounts

  24. 6. General investment rules

  25. 7. Qualifying investments for a stocks and shares component

  26. 8. Qualifying investments for a cash component

  27. 9.Insurance policies

  28. 10. Qualifying individuals who may invest under an account that is not a junior ISA account

  29. 11. Account investor ceasing to qualify

  30. 12.Conditions for application to open an account that is not a junior ISA account

  31. 12A.Conditions for application to open an account that is a junior ISA account

  32. 13. Application by curator bonis

  33. 14. Account manager—qualifications and Board’s approval

  34. 15. Special requirements relating to insurer-managers

  35. 16. Account manager—appointment of tax representative

  36. 17. Account manager—withdrawal by Board of approval

  37. 18. Account manager—appeal against withdrawal of Board’s approval

  38. 19. Account manager ceasing to act

  39. 20. Account manager ceasing to qualify

  40. 21.Transfers relating accounts other than junior ISA accounts

  41. 21A.Further requirements relating to transfers between cash accounts

  42. 21B.Transfers relating to junior ISA accounts

  43. 21C.Repair of invalid junior ISA accounts

  44. 22. Exemption from tax of account income and gains

  45. 23. Interest on cash deposits held under a stocks and shares component of an account that is not a junior ISA account

  46. 24. Tax liabilities and reliefs—account manager to act on behalf of account investor

  47. 25. Repayments in respect of tax to account manager—interim claims

  48. 26. Repayments in respect of tax to account manager—annual returns and annual claims

  49. 27. Account manager’s returns and claims—supplementary provisions

  50. 28. Assessments for withdrawing relief and recovering tax

  51. 29. Records to be kept by account manager

  52. 30. Information to be given to account investor by account manager in relation to an account that is not a junior ISA account

  53. 31. Returns of information by account manager

  54. 32. Information to be provided to the Board

  55. 33. Inspection of records by officer of the Board

  56. 34. Capital gains tax—adaptation of enactments

  57. 35. Administration of tax in relation to accounts—supplementary

  58. 36.Application of the provisions of Chapter II of Part XIII of the Taxes Act and of Chapter 9 of Part 4 of ITTOIA 2005 to policies where an investor ceases to be or was not entitled to relief from tax

  59. Signature

  60. Explanatory Note

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