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.