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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend regulation 12 of the Child Trust Funds Regulations (S.I. 2004/1450) (“the CTF Regulations”). They come into force on 8th August 2012.

Regulation 2 of these regulations amends paragraph (8) of regulation 12 of the CTF Regulations (qualifying investments for an account), so that a deposit account or share account which is a qualifying investment will not be connected with another investment for the purposes of regulation 12(8) of the CTF Regulations where both are held in an ISA account, junior ISA account or a child trust fund.

A Tax Information and Impact Note covering this instrument will be published on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm.