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There are currently no known outstanding effects for the The Individual Savings Account Regulations 1998, Section 5DF.
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5DF.—(1) The information specified by this regulation is—
(a)in relation to a defaulted cash account subscription—
(i)[F2evidence of ] the amount held in the defaulted cash account to which the subscription relates immediately before the default event occurred (including interest accrued but not paid at that time);
[F3(ia)in the case of a flexible account, in the year in which the default event occurred and before such event, evidence of the amount (if any) of cash withdrawn from the account which was not replaced by a replacement subscription;]
(ii)the current year’s subscription made to that account; and
(iii)the date on which the first subscription (if any) was made to that account, in the year in which the defaulted cash subscription is made;
(b)in relation to a defaulted investment subscription[F4, defaulted Lifetime ISA subscription] or a subscription permitted by regulation 5DE—
(i)evidence of the amount of the defaulted investment payment to which the subscription relates and the date it was paid;
(ii)details of the defaulted investment in respect of which the defaulted investment payment was made;
(iii)the full name and address (including postcode) of the account manager of the stocks and shares account[F5, innovative finance account or Lifetime ISA] in which the defaulted investment was held;
(iv)the full name and address (including postcode) of the maker of the defaulted investment payment[F6;]
[F7(c)in relation to a subscription permitted by regulation 5DDA—
(i)the deceased’s full name;
(ii)the full address of the deceased’s permanent residence at the date of death;
(iii)the deceased’s National Insurance number, if known;
(iv)the deceased’s date of birth and date of death; and
(v)the date of S’s marriage or civil partnership to the deceased;
(d)in relation to a subscription permitted by regulation 5DDA and made with an account manager other than the deceased’s account manager, the name and address of the deceased’s account manager.]
[F8(1A) The requirements in sub-paragraph (1)(c) are met where the information is provided on the first instance a subscription permitted by regulation 5DDA is made to an account.]
(2) In this regulation—
“current year’s subscription” in relation to a defaulted cash account means—
subscriptions [F9(other than a subscription to the account made in accordance with regulation 5D)] made to the account in the year in which the defaulted cash account subscription is made, but before the default event; and
subscriptions made to any other account held by the account investor in the year in which the defaulted cash account subscription is made and transferred to the account before the subscription is made.]
Textual Amendments
F1Regs. 5D-5DM inserted (8.8.2012) by The Individual Savings Account (Amendment) (No. 2) Regulations 2012 (S.I. 2012/1871), regs. 1, 11
F2Words in reg. 5DF(1)(a) inserted (1.2.2016) by The Individual Savings Account (Amendment) Regulations 2016 (S.I. 2016/16), regs. 1, 11(a)
F3Reg. 5DF(1)(a)(ia) inserted (with effect in accordance with reg. 1 of the amending S.I.) by The Individual Savings Account (Amendment) Regulations 2016 (S.I. 2016/16), regs. 1, 11(b)
F4Words in reg. 5DF(1)(b) inserted (6.4.2017) by The Individual Savings Account (Amendment No. 2) Regulations 2017 (S.I. 2017/466), regs. 1, 16(a)
F5Words in reg. 5DF(1)(b)(iii) substituted (6.4.2017) by The Individual Savings Account (Amendment No. 2) Regulations 2017 (S.I. 2017/466), regs. 1, 16(b)
F6Punctuation in reg. 5DF(1)(b)(iv) substituted (6.4.2015) by The Individual Savings Account (Amendment No. 2) Regulations 2015 (S.I. 2015/869), regs. 1, 8(a)
F7Reg. 5DF(1)(c)(d) inserted (6.4.2015) by The Individual Savings Account (Amendment No. 2) Regulations 2015 (S.I. 2015/869), regs. 1, 8(b)
F8Reg. 5DF(1A) inserted (6.4.2015) by The Individual Savings Account (Amendment No. 2) Regulations 2015 (S.I. 2015/869), regs. 1, 8(b)
F9Words in reg. 5DF(2) inserted (1.2.2016) by The Individual Savings Account (Amendment) Regulations 2016 (S.I. 2016/16), regs. 1, 11(c)
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