{
  "url": "https://openlegislation.uk/individual-savings-account-amendment-regulations-2010/note",
  "json_url": "https://openlegislation.uk/individual-savings-account-amendment-regulations-2010/note.json",
  "legislation": "uksi/2010/835",
  "legislation_title": "The Individual Savings Account (Amendment) Regulations 2010",
  "legislation_url": "https://openlegislation.uk/individual-savings-account-amendment-regulations-2010",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Individual Savings Account Regulations 1998 (S.I. 1998/1870). The effect of these Regulations is to allow individuals who had ISAs managed by Keydata Investment Services Limited (“Keydata,” which went into administration on 8th June 2009), holding investments in a Luxembourg company, SLS Capital S.A. Secure Income Bonds, issues 1, 2 or 3 (“the Bonds”), who have lost their capital, to reinvest up to the amount subscribed for investment in the Bonds in another stocks and shares ISA, by means of a single subscription, before 6th April 2011. These Regulations have effect from 30th December 2009, and make provision which does not impose or increase any liability to tax. In these circumstances, authority to make retrospective provision is conferred by section 701(4) of the Income Tax (Trading and other Income) Act 2005.\nThe relevant individuals will have received a certificate from the Administrators of Keydata, showing (inter alia) the maximum amount which can be so invested. The certificate must be handed to the new ISA account manager, who will treat the subscription in the same way as an ISA transfer. Such reinvestments have already taken place under the terms of ISA Bulletins 16 and 17.\nRegulation 1 provides for citation, commencement and effect, and regulation 2 for amendment of the principal Regulations. Regulation 3 makes the provision for reinvestment of amounts subscribed for investment in the Bonds.\nAn Impact Assessment has not been prepared for this instrument as it has a negligible impact on business, charities or voluntary bodies.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2010/835/note",
    "retrieved_at": "2026-10-29T02:47:17.037362+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."
}