# The Individual Savings Account (Amendment) Regulations 2007, Regulation 9: Amendment of the Individual Savings Account Regulations 1998


After regulation 4C (removal of insurance components) insert—
“Removal of maxi-accounts, mini-accounts and TESSA only accounts at 6th April 2008
4D. (1) This regulation applies to accounts in existence immediately before 6th April 2008 (“the transitional time”).
(2) An account that, at the transitional time, is or has been designated as a TESSA only account shall be treated as a cash account on and from 6th April 2008.
(3) An account that, at the transitional time, is or has been designated as a mini-account made up of a cash component shall be treated as a cash account on and from 6th April 2008.
(4) An account that, at the transitional time, is or has been designated as a mini-account made up of a stocks and shares component shall be treated as a stocks and shares account on and from 6th April 2008.
(5) An account that, at the transitional time, is or has been designated as a maxi-account and is made up of a stocks and shares component only, shall be treated as a stocks and shares account on and from 6th April 2008.
(6) Where an account, at the transitional time, is or has been designated as a maxi-account and is made up of two components—
(a) the stocks and shares component, if it holds investments or cash at the transitional time, shall be treated as a stocks and shares account on and from 6th April 2008; and
(b) the cash component, if it holds investments or cash at the transitional time, shall be treated as a separate cash account on and from 6th April 2008.”

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Source: https://www.legislation.gov.uk/uksi/2007/2119/regulation/9 (the official version)
Page: https://openlegislation.uk/individual-savings-account-amendment-regulations-2007/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.