Qualifying individuals who may invest under an account10
1
This regulation specifies the description of individual who may invest under an account (“qualifying individual").
2
A qualifying individual to whom paragraph (1) refers is an individual—
a
whoF1, in the cases of a maxi-account or of a mini-account made up of a cash component, is 16 years of age or over and, in any other case, is 18 years of age or over;
b
who, in the case where the account is a maxi-account, has not subscribed, and will not subscribe, to any other account, not being a TESSA only account, in the year in which the subscription is made;
c
who, in the case where the account is a mini-account, has not subscribed, and will not subscribe, to any other account, not being a mini-account made up of a different type of component than the account mentioned in paragraph (1) or a TESSA only account, in the year in which the subscription is made; and
d
i
who is resident and ordinarily resident in the United Kingdom, or
ii
iii
who, though not resident in the United Kingdom, is married to a person mentioned in paragraph (ii)