Qualifying individuals who may invest under an account F1that is not a junior ISA accountF2nor a Lifetime ISA10.

F3(1)

This regulation specifies the description of individual (“qualifying individual”) who may invest under an account that is not a junior ISA account F4nor a Lifetime ISA.

(2)

A qualifying individual to whom paragraph (1) refers is an individual—

F5(a)

who, in the case of a cash account, is 16 years of age or over and, in the case of a stocks and shares account F6or innovative finance account, is 18 years of age or over;

(b)

who, F7except for a subscription made in accordance with regulation F85D(2)(a)(iia) or (iv), in the case of a stocks and shares account, has not subscribed, and will not subscribe, to any other stocks and shares account, in the year in which the subscription is made;

(c)

who, F9except for a subscription made in accordance with regulation F105D(2)(a)(i), (iia), (iv) or (v), in the case of a cash account, has not subscribed, and will not subscribe, to any other cash account, in the year in which the subscription is made;

F11(cza)

who, except for a subscription made in accordance with regulation 5D(2)(a)(iia) or (iv), in the case of an innovative finance account, has not subscribed and will not subscribe, to any other innovative finance account, in the year in which the subscription is made;

(ca)

who has not exceeded the F12... overall subscription limit in F13regulation 4ZA(1)F12... in that year;

(d)

(i)

who is resident F14... in the United Kingdom, or

F15(ii)

who, though not resident in the United Kingdom, has general earnings from overseas Crown employment subject to United Kingdom tax within the meaning given by section 28 of ITEPA 2003, F16or

(iii)

who, though not resident in the United Kingdom, is married to F17or in a civil partnership with a person mentioned in paragraph (ii)F18; or

F19(iv)

who, where the terms and conditions of an account allow for it, though not resident in the United Kingdom, makes a subscription to the account in accordance with regulation 5D.

F20(3)

For the purposes of paragraph (2)(b) and (c), a subscription to a junior ISA account shall be disregarded.