{
  "url": "https://openlegislation.uk/individual-savings-account-amendment-no-3-regulations-2013/note",
  "json_url": "https://openlegislation.uk/individual-savings-account-amendment-no-3-regulations-2013/note.json",
  "legislation": "uksi/2013/1743",
  "legislation_title": "The Individual Savings Account (Amendment No. 3) Regulations 2013",
  "legislation_url": "https://openlegislation.uk/individual-savings-account-amendment-no-3-regulations-2013",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Individual Savings Accounts Regulations 1998 (S.I. 1998/1870) (“the Regulations”).\nThe retrospective effect of regulation 3(b), 6 and 7 to 5th March 2013 and regulation 4 to 24th June 2013 is permitted by section 701(4) of the Income Tax (Trading and Other Income) Act 2005 (c. 5), and section 151(2) of the Taxation of Chargeable Gains Act 1992 (c. 12).\nThe definitions of “EEA Agreement” and “EEA State” in the Regulations are being updated by regulation 3(a) in light of changes to the membership of the EEA and in order to ensure consistency with definitions in other enactments.\nRegulation 3(b) expands the definition of bulk transfer of accounts in the Regulations to include a bulk transfer of accounts pursuant to an insurance business transfer scheme or a banking business transfer scheme under Part 7 (Control of Business Transfers) of the Financial Services and Markets Act 2000 (“FSMA”) (c. 8).\nRegulation 6 amends regulation 21(4DE) of the Regulations (and regulation 7 amends regulation 21B(8D) of the Regulations) to allow (subject to certain conditions being met) for a subscription to be made to an account following a bulk transfer of accounts sanctioned by the court under Part 7 of FSMA, without the need for a fresh application to be made by an ISA investor pursuant to regulation 12 and 12A of the Regulations.\nRegulation 4 adds regulation 2F(2)(ea) and (eb) to the Regulations to update the statutory references following the repeal of section 70 of the Children (Scotland) Act 1995 (c. 36) and its replacement by sections 83 and 86 of the Children’s Hearings (Scotland) Act 2011 (asp 1).\nRegulation 5 amends regulation 7 of the Regulations to include as qualifying investments, shares in a company which are admitted to trading on a recognised stock exchange in the European Economic Area.\nA Tax Information and Impact Note covering this instrument will be published on the HMRC website at: http://www.hmrc.gov.uk/thelibrary/tiins.htm.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2013/1743/note",
    "retrieved_at": "2026-10-29T00:47:58.775955+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."
}