Regulation 11 Amendment of the Individual Savings Account Regulations 1998

After regulation 7(16) add—

“(17)

Where a policy of life insurance confers on the person to whom it is issued an option to have another policy issued for it or to have any of its terms changed, the condition in paragraph (15) shall only be satisfied if it would also be satisfied if each or any of the changes capable of being made in pursuance of such an option had been made.”.