Amendment of regulation 2 (interpretation)

3.—(1) In regulation 2(1)(a) (interpretation), after the meanings for “51% subsidiary” and “75% subsidiary”, insert—

““first subscription”, in any year, means the first subscription into an account in that year which is not a subscription made in accordance with regulation 5D;”.

(2) After the meaning for “first subscription” in that regulation inserted by paragraph (1), insert—

““flexible account” has the meaning given in regulation 5DDB;”.

(3) After the meaning for “relevant authorised person” in that regulation, insert—

““replacement subscription” has the meaning given in regulation 5DDB;”.