{
  "url": "https://openlegislation.uk/child-trust-funds-amendment-no-2-regulations-2024/regulation-5",
  "json_url": "https://openlegislation.uk/child-trust-funds-amendment-no-2-regulations-2024/regulation-5.json",
  "legislation": "uksi/2024/1023",
  "legislation_title": "The Child Trust Funds (Amendment) (No. 2) Regulations 2024",
  "legislation_url": "https://openlegislation.uk/child-trust-funds-amendment-no-2-regulations-2024",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Amendment of regulation 12",
  "text": "In regulation 12 (qualifying investments for an account)—\n(a) in paragraph (2)—\n(i) in sub-paragraph (a), before the word “shares” (where it first appears) insert “subject to paragraphs (2B) and (2C),”;\n(ii) in sub-paragraph (f), before the word “shares” insert “subject to paragraphs (2B) and (2C),”.\n(iii) after sub-paragraph (q) insert—\n“(qa) subject to paragraphs (2B) and (2C), shares of a UK UCITS, a recognised UCITS or non-UCITS retail scheme that are listed on or admitted to trading on a recognised stock exchange;”;\n(b) after paragraph (2)(r) insert—\n“(s) an interest in a fraction of a share where the named child holds the beneficial interest in a fraction that is less than one whole share under terms which are contained in a contractual arrangement between the named child and the manager (“fractional interest”).”;\n(c) After paragraph (2A) insert—\n“(2B) An interest in a fraction of a qualifying investment falling within any of sub-paragraphs (a) to (j) of paragraph (2) is not a qualifying interest for an account unless it is a fractional interest within the meaning of sub-paragraph (s) of that paragraph.\n(2C) In sub-paragraph (s) of paragraph (2), “shares” means shares which are qualifying investments in accordance with sub-paragraphs (a), (f) or (qa) of that paragraph.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph (2) of regulation 12 was amended by S.I. 2005/3349, 2010/582, 2013/1744, 2014/649, 2014/1453, 2019/713 and 2023/269."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Paragraph (2A) was added by S.I. 2020/29."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2024/1023/regulation/5",
    "retrieved_at": "2026-10-28T21:25:48.659425+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}