13. 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.”.