Amendments to the Individual Savings Account Regulations 199817

In regulation 10 (qualifying individuals who may invest under an account)—

a

in the heading, at the end, add “that is not a junior ISA account”;

b

for paragraph (1) substitute—

1

This regulation specifies the description of individual (“qualifying individual”) who may invest under an account that is not a junior ISA account.

c

in paragraph (2)(ca)—

i

for “regulation 4(2)” substitute “regulation 4ZA(1)”, and

ii

for “regulation 4(3)” substitute “regulation 4ZA(2)”;

d

after paragraph (2) insert—

3

For the purposes of paragraph (2)(b) and (c), a subscription to a junior ISA account shall be disregarded.