Regulation 5 Amendment of the Individual Savings Account Regulations 1998

In regulation 5DDA (additional permitted subscription to an account other than a junior ISA account)—

(a)

after “deceased’s death” where it appears—

(i)

in paragraph (3)(a), insert “or, in the event that the period for an administration-period investment in a continuing account of a deceased investor with an account manager ends and S has not made a subscription under paragraph (1), immediately before the account ceasing to be a continuing account of a deceased investor (whichever is the higher)”, and

(ii)

in paragraphs (3)(b), (3A) and (3B), insert “or, in the event mentioned in paragraph 3(a) occurring, immediately before the account ceasing to be a continuing account of a deceased investor (whichever is the higher)”; and

(b)

in paragraph (4)(b), after “the case” insert “of”.