Regulation 13 Amendment of regulation 21

In regulation 21 (transfers relating accounts other than junior ISA accounts)^f1—

(a)

in paragraph (4)—

(i)

at the beginning, for “The” substitute “In the case of a cash account, the”;

(ii)

in sub-paragraphs (a), (c) and (d) omit “(if the account investor is 18 years of age or over)”;

(b)

after paragraph (4) insert—

“(4ZA)

In the case of a stocks and shares account or an innovative finance account, the current year’s subscriptions and the previous years’ subscriptions may be transferred to—

(a)

a stocks and shares account,

(b)

an innovative finance account,

(c)

a Lifetime ISA, or

(d)

a cash account, if the account investor is 65 or over at the end of the year,

belonging to the same account investor.”;

(c)

in paragraph (4DA), in sub-paragraphs (e) and (f) omit “, a cash account”.

Annotations

Footnotes

f1: Regulation 21 was relevantly amended by S.I. 2007/2119, 2012/1871, 2014/1450, 2016/634 and 2017/466.