Regulation 9 Annual limit on subscriptions

United Kingdom

(1)

Any person (including the child) may make subscriptions to a child’s account, subject to paragraphs (2) and (3).

(2)

Subscriptions to an account made during any subscription year, that is—

(a)

the period beginning with the day on which the account is opened (or if opened before the appointed day, opened for the purpose of accepting subscriptions under regulation 5(2)(b)), and ending immediately before the child’s next birthday, and

(b)

any succeeding period of twelve months,

shall not in aggregate exceed the sum of F1£9,000.

(3)

Where the aggregate of subscriptions in any year falls short of F2£9,000 or is nil, there shall be no addition to the amount for any succeeding year.

Annotations

Textual amendments

F1: Sum in reg. 9(2) substituted (6.4.2020) by The Child Trust Funds (Amendment No. 2) Regulations 2020 (S.I. 2020/269), regs. 1, 3
F2: Sum in reg. 9(3) substituted (6.4.2020) by The Child Trust Funds (Amendment No. 2) Regulations 2020 (S.I. 2020/269), regs. 1, 3