Regulation 5DAA Defaulted Lifetime ISA subscriptionF1F2
A subscription is a defaulted Lifetime ISA subscription if—
(a)
it is made to a Lifetime ISA held by the account investor who held the Lifetime ISA in respect of which a defaulted investment payment has been made no more than 180 days before the subscription is made; and
(b)
it does not exceed the defaulted investment payment.
Annotations
Textual amendments
- F1
Regs. 5D-5DM inserted (8.8.2012) by The Individual Savings Account (Amendment) (No. 2) Regulations 2012 (S.I. 2012/1871), regs. 1, 11
- F2
Reg. 5DAA inserted (6.4.2017) by The Individual Savings Account (Amendment No. 2) Regulations 2017 (S.I. 2017/466), regs. 1, 12