The Child Trust Funds Regulations 2004

Conditions for application by responsible person or the child to open an account (and changes to an account)

13.—(1) An application by a responsible person in relation to a child or the child if 16 or over, as the case may be, (“the applicant”) to open an account for the child with an account provider must be made to the account provider in a statement which must satisfy the conditions specified in paragraphs (2) to (6).

(2) An application must specify the description of account applied for.

(3) An application must incorporate a declaration by the applicant that he—

(a) is aged 16 years of age or over,

(b) is—

(i) (where the child is under 16) a responsible person in relation to the named child (that is, that he has parental responsibility in relation to the child), or

(ii) the child if 16 or over, and

(c) is to be the registered contact for the account;

and where the application is not in writing, must authorise the account provider to record the terms of the declaration in a written declaration made on behalf of the applicant.

(4) The applicant must authorise the account provider (on behalf of the named child where appropriate)—

(a) to hold the child’s Inland Revenue contributions, subscriptions, account investments, interest, dividends and any other rights or proceeds in respect of those investments and cash, and

(b) to make on his behalf any claims to relief from tax in respect of account investments,

and the authority must continue until a further application and declaration is made in accordance with paragraph (10).

(5) An application must contain—

(a) the applicant’s full name,

(b) his address, including postcode,

(c) the named child’s full name,

(d) his address, including postcode, and

(e) the child’s unique reference number on the voucher.

(6) There may be only one declaration and authorisation under paragraphs (3) to (5) in force for an account at any time.

(7) Except in the case—

(a) of the death or incapacity of the registered contact,

(b) where the registered contact cannot be contacted,

(c) of the bringing to an end of a Court order, under which he is a responsible person for the named child,

(d) of the named child attaining the age of 16 years,

(e) where the Official Solicitor or Accountant of Court is appointed under section 3(10) of the Act, or

(f) where a Court so orders,

any change in the identity of the registered contact shall require confirmation by the current registered contact that his declaration and authorisation under paragraphs (3)(c) and (4) is cancelled.

(8) An account provider must decline to accept an application if he has reason to believe that—

(a) the voucher has expired, or is not or might not be genuine, or

(b) the applicant has given untrue information in his application.

(9) Where the application is not in writing, the account provider shall make the written declaration referred to in paragraph (3), and notify the applicant of its contents, and such declaration shall take effect from the date on which the applicant agrees the contents (subject to any corrections), and if he neither agrees or disagrees with the contents within 30 days, he shall be treated as having agreed them.

(10) Where—

(a) there is a change in the identity of the registered contact, the new registered contact, or

(b) an account has been opened by the Inland Revenue under regulation 6 (Revenue allocated accounts) and a responsible person in relation to the child (or the child, if 16 or over) subsequently applies to the account provider to be the registered contact for the account, he,

shall make the application and declaration required by paragraphs (3) to (5).