Explanatory note

This Order further amends the National Savings Bank (Investment Deposits) (Limits) Order 1977 to limit the amount which may be paid into an individual savings account in any one year. An individual savings account is a new type of investment deposit account being introduced on 6th April 1999 by the National Savings Bank (Amendment) Regulations 1999. No more than £3,000 may be paid into an individual savings account in the tax year 1999–2000. No more than £1,000 may be paid into such an account in subsequent years.