# The Individual Savings Account Regulations 1998, Regulation 5DAA: Defaulted Lifetime ISA subscription


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.

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Source: https://www.legislation.gov.uk/uksi/1998/1870/regulation/5DAA (the official version)
Page: https://openlegislation.uk/individual-savings-account-regulations-1998/regulation-5DAA
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.