Amendment to the ISA Regulations 1998
This section has no associated Explanatory Memorandum
3. In regulation 4 (General conditions for accounts and subscriptions to accounts)—
(1) at the end of paragraph (6)(f) insert “and, where it applies, regulation 21A”; and
(2) for paragraph (7) substitute—
“(7) The time stipulated in the transfer instructions or withdrawal instructions shall be subject to any reasonable business period of the account manager required for the practical implementation of the instructions, but such period—
(a)must not exceed 30 days; and
(b)must be consistent with regulation 21A where it applies.”.