Regulation 5DI Special provision in respect of Lehman Brothers investments and Keydata investmentsF1

(1)

Regulations 5DJ to 5DM make special provision in respect of an investment that is a Lehman Brothers investment or a Keydata investment.

(2)

An investment is a Lehman Brothers investment if—

(a)

the investment was a qualifying investment held by an account investor in a stocks and shares account on 15th September 2008;

(b)

Lehman Brothers Holdings Inc. acted as the sole counterparty underwriting the investment on that day; and

(c)

the investment was not sold or otherwise disposed of on that day so as to cause it to cease to be a qualifying investment of the account on that day or any other day.

(3)

An investment is a Keydata investment if—

(a)

the investment was a qualifying investment held by an account investor in a stocks and shares account on 8th June 2009;

(b)

Keydata Investment Services Limited (Keydata) on that day—

(i)

was the account manager of the account, or

(ii)

administered the account for another account manager; and

(c)

the investment was not sold or otherwise disposed of on that day so as to cause it to cease to be a qualifying investment of the account on that day or any other day.

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