{
  "url": "https://openlegislation.uk/individual-savings-account-amendment-no-2-regulations-2011/regulation-23",
  "json_url": "https://openlegislation.uk/individual-savings-account-amendment-no-2-regulations-2011/regulation-23.json",
  "legislation": "uksi/2011/1780",
  "legislation_title": "The Individual Savings Account (Amendment No. 2) Regulations 2011",
  "legislation_url": "https://openlegislation.uk/individual-savings-account-amendment-no-2-regulations-2011",
  "path": "regulation/23",
  "kind": "regulation",
  "number": "23",
  "heading": "Amendments to the Individual Savings Account Regulations 1998",
  "text": "In regulation 20 (account manager ceasing to qualify)—\n(a) for paragraph (1) substitute—\n“(1) A person shall cease to qualify as an account manager and shall notify the Board within 30 days of the relevant event in sub-paragraphs (a) to (e), of that relevant event, where—\n(a) the person no longer fulfils the conditions of regulation 14;\n(b) there is an insolvency event in relation to the account manager;\n(c) an application has been made for a bank insolvency order or a bank administration order;\n(d) in the case of a building society, a person falling within section 991 of ITA 2007 or a credit union—\n(i) it ceases to be a building society or to fall within section 991 of ITA 2007 or to be a credit union, as the case may be;\n(ii) its directors have made a proposal under Part 1 of the Insolvency Act 1986 for a composition in satisfaction of its debts or a scheme of arrangement of its affairs; or\n(iii) a receiver or manager of its property has been appointed; or\n(e) in the case of a European institution, a relevant authorised person or an assurance undertaking which falls within regulation 14(2)(b)(iv) and (v), action corresponding to any described in sub-paragraphs (b) to (d) has been taken by or in relation to the institution, person or undertaking under the law of an EEA State.”;\n(b) in paragraph (2) after “regulation 21” insert “or 21B (as appropriate)”;\n(c) in paragraph (3)(a) for “regulation 19” substitute “regulation 17(4) or 19”;\n(d) in paragraph (3)(b) after “regulation 21” insert “or 21B (as appropriate)”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2007 c. 3; section 991 was modified by section 8 of the Co-Operative and Community Benefit Societies and Credit Unions Act 2010 (c. 7) and paragraph 563 of Schedule 1 to the Corporation Tax Act 2010 (c. 4)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "1986 c. 45; Part 1 was amended by sections 1, 2 and 15(1) and Schedule 1, Part 1 of Schedule 2 and 5 to the Insolvency Act 2000 (c. 39), section 248(3) and Schedule 17 to the Enterprise Act 2002 (c. 40), section 159(1) and Part 4 of Schedule 20 to the Energy Act 2004 (c. 20), S.I. 2002/1240 and S.I. 2009/1941."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2011/1780/regulation/23",
    "retrieved_at": "2026-10-29T02:01:06.032017+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}