# The Child Trust Funds (Amendment) (No. 2) Regulations 2024, Regulation 5: Amendment of regulation 12


In regulation 12 (qualifying investments for an account)—
(a) in paragraph (2)—
(i) in sub-paragraph (a), before the word “shares” (where it first appears) insert “subject to paragraphs (2B) and (2C),”;
(ii) in sub-paragraph (f), before the word “shares” insert “subject to paragraphs (2B) and (2C),”.
(iii) after sub-paragraph (q) insert—
“(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;”;
(b) after paragraph (2)(r) insert—
“(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”).”;
(c) After paragraph (2A) insert—
“(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.
(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.”.

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Source: https://www.legislation.gov.uk/uksi/2024/1023/regulation/5 (the official version)
Page: https://openlegislation.uk/child-trust-funds-amendment-no-2-regulations-2024/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.