Regulation 3 Amendment of the Personal Equity Plan Regulations 1989

For regulation 4(1) substitute—

“(1)

A plan which, immediately before 6th April 2008, is—

(a)

held by a plan investor, and

(b)

exempt from tax under regulation 17,

shall be treated, on and from the 6th April 2008, as an account, set up as a stocks and shares account and made up of a single stocks and shares component only, within the meaning in regulation 4(1) of the Individual Savings Account Regulations 1998^f1.”.