Regulation 2

(1)

The Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004^f1 are amended as follows.

(2)

In paragraph (b) of regulation 4 (certain deposit accounts)—

(a)

for “as a means of payment to the account payment by” substitute—

“payment to the account by any of the following means, at the option of the account-holder”;

(b)

omit sub-paragraph (iii).

(3)

In paragraph (2)(b) of regulation 7 (characteristics and conditions applicable to certain stakeholder products) for the words from “as a means” to “payment by” substitute—

“payment to the investment scheme by any of the following means, at the option of the investor”.

Annotations

Footnotes

f1: S.I. 2004/2738.