Regulation 3 Amendment of the Individual Savings Account Regulations 1998

for the definition of “outstanding principal balance”, substitute—

• ““outstanding principal balance” means, in respect of a qualifying investment for an innovative finance component, the amount in respect of the investment owing to the account investor at any time;”;

at the appropriate places insert—

• ““charity” has the meaning given in paragraph 1(1) of Schedule 6 to the Finance Act 2010^f1;”;

• ““debenture” includes any instrument creating or acknowledging indebtedness within the meaning of article 77(1) and (2) of the Regulated Activities Order 2001^f2 but with the omission of the words “such of the following as do not fall within article 78;”;

• ““transferable security” has the meaning given in section 102A(3) of FISMA 2000^f3;”.