Amendment of the Individual Savings Account Regulations 1998
This section has no associated Explanatory Memorandum
3. In regulation 2(1)(a)—
(a)in the definition of “account investment”, for “, a cash” to the end substitute “or a cash component, as the case may be, within the meaning of regulation 7 or 8”;
(b)in the definition of “assurance undertaking”, for “8” to the end substitute “2 of the Council Directive of 5th November 2002 concerning life assurance (No. 2002/83)”;
(c)insert at the appropriate place the following definition—
““the Stakeholder Products Regulations” means the Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004(1);”.
(1)
S.I. 2004/2738.