Amendment of the Individual Savings Account Regulations 19984.

In regulation 7 (qualifying investment for stocks and shares component)—

(a)

in paragraph (2)—

(i)

at the end of sub-paragraph (b)(i) insert “and”;

(ii)

at the end of sub-paragraph (b)(ii) for “and” substitute a full stop;

(iii)

omit sub-paragraph (b)(iii);

(iv)

in sub-paragraph (d) omit “, in circumstances where the trust satisfies the conditions specified in paragraph (8)”;

(v)

omit paragraph (8).

(b)

in paragraph (5) at the end of sub-paragraph (c) for the full stop substitute a semicolon and, after that sub-paragraph, insert—

“(d)

that the shares in the company issuing the securities are admitted to trading on a recognised stock exchange in the European Economic Area;

(e)

that the securities are so admitted to trading;

(f)

that the company issuing the securities is a 75% subsidiary of a company whose shares are so admitted to trading.”