Amendment of the Individual Savings Account Regulations 19983
In regulation 2 (interpretation), in paragraph (1)(a)—
a
in the definition of “account”, in paragraph (iv), from “section” to “institution”, substitute: “section 991(2) of the Income Tax Act 20074”;
b
after the definition of “assurance undertaking” insert—
“bank” has the meaning given by section 991(2) to (5) of the Income Tax Act 2007;
c
in the definition of “European institution”, for “paragraph 5(a), (b) or (c)”, substitute: “paragraph 5(a) to (d), (f) and (h)”; and after “under paragraph 12”, insert: “(1) to (4) and (7)”;
d
e
omit the definition of “relevant European institution”.