Regulation 3 Amendment of regulation 2

(1)

In regulation 2(1)(a) (interpretation)^f1, for the definition of “dormant account” substitute—

““dormant account” means an account which contains a “relevant dormant asset” within the meaning given in section 39(2) of the Finance Act 2008^f2, omitting the words “is to be, or”;”.

(2)

In regulation 2(1)(b), in the definition of “recognised UCITS”^f3—

(a)

after sub-paragraph (a) omit “or”, and

(b)

after sub-paragraph (b) insert—

“; or

(c)

a recognised scheme in accordance with section 271A of the Financial Services and Markets Act 2000^f4.”.

Annotations

Footnotes

f1: The definition of “dormant account” was inserted by S.I. 2011/22.
f2: 2008 c. 9. Section 39 was substituted by paragraph 2 of Schedule 6 to the Finance Act 2022 (c. 3).
f3: The definition of “recognised UCITS” was amended by S.I. 2019/325 and was substituted by S.I. 2019/689.
f4: 2000 c. 8. Section 271A was inserted by Schedule 9 to the Financial Services Act 2021 (c. 22).