{
  "url": "https://openlegislation.uk/individual-savings-account-amendment-no-2-regulations-2016/regulation-5",
  "json_url": "https://openlegislation.uk/individual-savings-account-amendment-no-2-regulations-2016/regulation-5.json",
  "legislation": "uksi/2016/364",
  "legislation_title": "The Individual Savings Account (Amendment No. 2) Regulations 2016",
  "legislation_url": "https://openlegislation.uk/individual-savings-account-amendment-no-2-regulations-2016",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Amendment of the Individual Savings Account Regulations 1998",
  "text": "In regulation 4 (general conditions for accounts and subscriptions to accounts)—\n(a) in paragraph (1), for “and in respect of which—” substitute “which is an innovative finance account or in respect of which— ”;\n(b) after paragraph (1), insert—\n“(1ZA) An innovative finance account is an account in respect of which—\n(a) the conditions in paragraphs (1A)(a) and (ca); (1B)(ba) to (e); (5); (6)(a), (e) and (g) are fulfilled;\n(b) in relation to cash held in an account, the conditions in paragraphs (6)(f) and (fa) and (7) are fulfilled; and\n(c) the application to open the account is made in accordance with regulation 12.”;\n(c) in paragraph (1A)—\n(i) in sub-paragraph (a), for “or a cash account” substitute “, a cash account or an innovative finance account”;\n(ii) after sub-paragraph (c), insert—\n“(ca) an innovative finance account is made up of a single innovative finance component only;”;\n(d) in paragraph (1B), after sub-paragraph (b), insert—\n“(ba) except for a subscription made in accordance with regulation 5D(2)(a)(iv), a qualifying individual who is 18 or over may only subscribe to a single innovative finance account in a particular year;”; and\n(e) in paragraph (6)(b), after “regulation 8(2)(a),(b) or (e)” insert “and qualifying investments for an innovative finance component ”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 5 in force at 6.4.2016, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2016/364/regulation/5",
    "retrieved_at": "2026-10-28T23:25:29.635916+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."
}