Regulation 6 Amendments to the principal Regulations
In regulation 6(2)f1 for sub-paragraph (b) there shall be substituted—
“(b)subject either to the condition specified in paragraph (3) or to the condition specified in paragraph (4)—
(i)units in an authorised unit trust or a fund of funds, or
(ii)shares in an investment trust;”.
In regulation 6(3)—
for the word “conditions” there shall be substituted the word “condition” and for the word “are” there shall be substituted the word “is”, and
sub-paragraph (a) and the word “and” following it shall be omitted.
For regulation 6(4)f2 there shall be substituted—
“(4)The condition specified in this paragraph is that—
(a)the total amount of the cash subscription to the plan invested in authorised unit trusts, funds of funds and investment trusts, and
(b)any sum payable on such an application as is referred to in regulation 4(2A)(a) for the allotment or allocation of shares in an investment trust,
do not together in any year exceed one quarter of the subscription limit.”