Amendment of the Child Trust Funds Regulations 2004
2.—(1) The Child Trust Funds Regulations 2004(1) are amended as follows.
(2) In regulation 2 (interpretation), in paragraph (1)—
(a)in sub-paragraph (b), in the definition of “non-UCITS retail scheme”, in paragraph (b) after “by virtue of section” insert “271A(2) or”;
(b)in sub-paragraph (c), in the definition of “recognised UCITS”—
(i)omit paragraph (a);
(ii)for paragraph (c) substitute—
“(c)a recognised scheme by virtue of section 271A or 272 of FISMA 2000(3) that is a UCITS within the meaning given by section 236A(4) of that Act;”.
(3) In regulation 14 (account provider - qualifications and Board’s approval), in paragraph (2)(f) omit paragraph (i).
S.I. 2004/1450 (“the Principal Regulations”); relevant amending instruments are S.I. 2005/3349, 2010/582, 2013/472, 2013/1773, 2020/29 and 2023/269.
Section 271A of the Financial Services and Markets Act 2000 (c. 8) was inserted by paragraph 1 of Schedule 9 to the Financial Services Act 2021 (c. 22).
“FISMA 2000” is defined as the Financial Services and Markets Act 2000 in regulation 2(1)(b) of the Principal Regulations. Section 272 was amended by paragraph 9 of Schedule 18 to the Financial Services Act 2012 (c. 21), section 25(3) of the Financial Services Act 2021 and S.I. 2013/1773, 2013/1388 and 2019/325.
Section 236A was inserted by S.I. 2019/325.