# The Individual Savings Account (Amendment No. 2) Regulations 2017, Regulation 12: New regulation 5DAA


After regulation 5DA (defaulted cash account subscription) insert—
“Defaulted Lifetime ISA subscription
5DAA. A subscription is a defaulted Lifetime ISA subscription if—
(a) it is made to a Lifetime ISA held by the account investor who held the Lifetime ISA in respect of which a defaulted investment payment has been made no more than 180 days before the subscription is made; and
(b) it does not exceed the defaulted investment payment.”.

---
Source: https://www.legislation.gov.uk/ukdsi/2017/9780111154618/regulation/12 (the official version)
Page: https://openlegislation.uk/draft-individual-savings-account-amendment-no-2-regulations-2017/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.