Amendment of the Individual Savings Account Regulations 19985

In regulation 7 (qualifying investments for a stocks and shares component), after paragraph (2) insert—

2A

Notwithstanding any provision of paragraph (1), investments which—

a

are held by an account investor under a stocks and shares component on the coming into force of this paragraph; and

b

immediately beforehand fell within paragraph (2)(f) by virtue of being units in, or shares of, a recognised UCITS,

are to be treated, for as long as they are so held, as qualifying investments for the stocks and shares component.