Regulation 16 Amendment of the Individual Savings Account Regulations 1998I1

at the end of sub-paragraph (a), omit “or”;

after sub-paragraph (b), insert—

“or

(c)

an innovative finance account (if the account investor is 18 years of age or over),”;

at the end of sub-paragraph (a), omit “or”;

after sub-paragraph (b), insert—

“or

(c)

an innovative finance account to an innovative finance account,”;

after sub-paragraph (c), insert—

“(ca)

an innovative finance account (whether or not in a bulk transfer of accounts) is transferred to an innovative finance account held with the transferee immediately before the time when the transfer is made;”;

in sub-paragraph (d), after “stocks and shares account” insert “or an innovative finance account”;

at the end of sub-paragraph (d), omit “or”;

in sub-paragraph (e), after “cash account” insert “or an innovative finance account”;

at the end of sub-paragraph (e), omit the full-stop; and

after sub-paragraph (e), insert—

“; or

(f)

an innovative finance account is transferred (otherwise than in a bulk transfer of accounts) to a cash account or a stocks and shares account held with the transferee immediately before the time when the transfer is made.”;