Amendment of the Child Trust Funds Regulations 20045.

In regulation 33A (the Official Solicitor or Accountant of Court to be the person who has the authority to manage an account)5—

(a)

in the heading for “The Official Solicitor or Accountant of Court” substitute—

“The person appointed by the Treasury or the Secretary of State by virtue of section 3(10) of the Act”;

(b)

for paragraph (1) substitute—

“(1)

The person appointed by the Treasury or the Secretary of State by virtue of section 3(10) of the Act is to be the person who has the authority to manage a child’s account for the purposes of section 3(6)(b) of the Act where the circumstances specified in paragraph (2) apply.”;

(c)

in paragraph (2)—

(i)

before sub-paragraph (a) insert—

“(za)

except in a case of a person who was a looked after child or a looked after and accommodated child on 30th September 2017, there is a continuous period of at least twelve months during which the circumstances under sub-paragraphs (a) and (b) apply,

(zb)

in a case of a person who was a looked after child or a looked after and accommodated child on 30th September 2017, the circumstances under sub-paragraphs (a) and (b) apply,”;

(ii)

in sub-paragraph (a), for “the child” substitute “a child”;

(d)

omit paragraphs (2A), (2B), (3) and (5);

(e)

in paragraph (4), for “Official Solicitor or Accountant of Court”, in each place the phrase appears, substitute “person appointed by the Treasury or the Secretary of State by virtue of section 3(10) of the Act”;

(f)

in paragraph (6), omit the definition of “return period”; and

(g)

after paragraph (6) insert—

“(7)

Where the appointment of a person (“original appointee”) by the Treasury or the Secretary of State by virtue of section 3(10) of the Act ceases, the original appointee must provide any information held by that person in connection with the management of a child trust fund to the new person (if any) appointed instead.”.