# The Individual Savings Account Regulations 1998, Paragraph 11: Amounts not treated as withdrawals


For the purposes of paragraphs 7(2) and 11(b) of Schedule 1, withdrawals, removals or losses from a Lifetime ISA do not count for the application of a withdrawal charge if they are in respect of—
(a) a payment (including a government bonus) to an invalid account under regulation 4A or 4AA;
(b) excess payments and their proceeds described in regulation 4AA;
(c) any fees or charges properly levied or charged in respect of the management by the account manager of a Lifetime ISA and account investments in accordance with their terms and conditions;
(d) a default event under regulation 5DC or in respect of an act or omission or circumstance not attributable to the account investor; or
(e) an amount recouped in accordance with paragraph 12.

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Source: https://www.legislation.gov.uk/uksi/1998/1870/schedule/paragraph/11 (the official version)
Page: https://openlegislation.uk/individual-savings-account-regulations-1998/schedule/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.