Amendment of the Individual Savings Account Regulations 19984.
In regulation 22(1)(a) (exemption from tax)—
(a)
in paragraph (i) at the end add “(excluding any building society bonus)”;
(b)
after paragraph (ia)5 insert—
“or
(ib)
in respect of a payment under a building society bonus scheme, so far as the payment is calculated by reference to account investments (and if paid directly by the society into the account, the payment shall not count towards the subscription limits in regulation 4(2) to (3)); or”.”