Regulation 5DZ Treatment of ISA where funds transferred under regulation 13A of the Child Trust Funds Regulations (maturity of child trust fund - instructions)F1F2
United Kingdom
This regulation applies where a qualifying individual has given an instruction under regulation 13A of the Child Trust Funds Regulations that investments be transferred by way of subscription to an account under these regulations.
A subscription made in accordance with this regulation must be disregarded for the purposes of—
the overall subscription limit under regulation 4ZA(1) (subscriptions to an account other than a junior ISA account); and
the conditions under regulations—
10(2)F3... (d) (qualifying individuals who may invest under an account that is not a junior ISA account nor a Lifetime ISA);
10A(2)(f) (Lifetime ISA qualifying individuals who may invest under a Lifetime ISA); and
12B(4)(d)(i) to (iii) (conditions for application to open an account that is a Lifetime ISA).
Where a qualifying individual has given an instruction in relation to funds held otherwise than in cash, such transfer may be made in specie.
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
Regs. 5DZ, 5DZA inserted (6.4.2020) by The Individual Savings Account (Amendment) Regulations 2020 (S.I. 2020/30), regs. 1(1), 4
- F3
Words in reg. 5DZ(2)(b)(i) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 12 (with reg. 2)