In regulation 8 (qualifying investments for a cash component), for paragraph (3) substitute—

“(3)

A deposit account or share account which is a qualifying investment for a cash component falling within sub-paragraphs (a) or (b) of paragraph (2) respectively (“Account A”) must not be connected with any other account falling within the descriptions in those sub-paragraphs (“Account B”), held by the account investor or any other person.

(4)

For the purposes of paragraph (3), Account A is connected with Account B if all of the following circumstances apply—

(a)

either of the accounts was opened with reference to the other, or with a view to enabling the other to be opened on particular terms, or with a view to facilitating the opening of the other on particular terms,

(b)

the terms on which Account A was opened would have been significantly less favourable to the holder if Account B had not been opened, and

(c)

Account B is not a tax exempt account.

(5)

The following are tax exempt accounts for the purposes of paragraph (4)—

(a)

an account opened (or treated as opened) in accordance with regulation 12 or 12A;

(b)

a child trust fund.”.