# The Individual Savings Account (Amendment No. 3) Regulations 2017, Regulation 9: Amendment of the Individual Savings Account Regulations 1998


After regulation 34 (capital gains tax– adaptation of enactments) insert—
“Capital gains tax–administration-period investment
34A. For the purposes of capital gains tax—
(a) on the occasion when title to an administration-period investment is transferred from the personal representatives to a legatee, the legatee is to be treated as having acquired the investment on the date of transfer and for a consideration equal to its market value on such date; and
(b) on the occasion when title to an investment is transferred from the personal representatives to a legatee after the end of the period in respect of which it was an administration-period investment, there shall be deemed to be a disposal and reacquisition by the personal representatives of that investment at the end of that period and for a consideration equal to its market value at such time and the legatee is to be treated as having acquired the investment for such consideration on the date of transfer.”.

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Source: https://www.legislation.gov.uk/uksi/2017/1089/regulation/9 (the official version)
Page: https://openlegislation.uk/individual-savings-account-amendment-no-3-regulations-2017/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.