Regulation 6 Qualifying investments

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

regs 6, 6A, 6B replaced (by reg 6) by Personal Equity Plan 2001 reg 7
reg. 6(2)(g) substituted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 123(2)(a)
reg. 6(2)(j) substituted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 123(2)(b)
reg. 6(4)(a)(iv) substituted for reg. 6(4)(a)(iv)(v) by Financial Services and Markets Act 2000 (Taxes) 2001 art. 123(3)
reg. 6(8) word substituted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 123(4)
reg. 6(9) substituted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 123(5)
reg 6 am by Personal Equity Plan 2001 reg 3
reg.6(2)(a) rev.in pt. by Personal Equity Plan 1997 reg.6(1)(a)
reg.6(2)(ab)(ii) amended by Personal Equity Plan 1997 reg.6(1)(b)
reg.6(2)(b) amended by Personal Equity Plan 1997 reg.6(1)(c)
reg.6(2B)(a)(b)(c) amended by Personal Equity Plan 1997 reg.6(2)
reg.6(3)(a) amended by Personal Equity Plan 1997 reg.6(3)(a)(i)
reg.6(3)(a) added by Personal Equity Plan 1997 reg.6(3)(a) (iii)
reg.6(3)(a)(iv) amended by Personal Equity Plan 1997 reg.6(3)(a) (iv)
reg.6(3Xb) substituted by Personal Equity Plan 1997 reg.6(3)(b)
reg.6(3)(ba) added by Personal Equity Plan 1997 reg.6(3)(c)
reg.6(3)(c)(i)(ii) replaced (by reg.6(3) by Personal Equity Plan 1997 reg.6(3)(d)
reg.6(4)(a) amended by Personal Equity Plan 1997 reg.6(4)
reg.6(5)(b) substituted by Personal Equity Plan 1997 reg.6(5)(a)
reg.6(5)(c) substituted by Personal Equity Plan 1997 reg.6(5)(b)
reg.6(5)(ca) added by Personal Equity Plan 1997 reg.6(5)(c)
reg.6(5)(d) substituted by Personal Equity Plan 1997 reg.6(5)(d)
reg. 6(1)(2) amended by Personal Equity Plan 1991
reg. 6(2)(aa) added by Personal Equity Plan 1991
reg. 6(2)(ba) revoked by Personal Equity Plan 1991
reg. 6(2)(c) amended by Personal Equity Plan 1991
reg. 6(2A) added by Personal Equity Plan 1991
reg. 6(3)(6)(i)(ii) amended by Personal Equity Plan 1991
reg. 6(3)(a) amended by Personal Equity Plan 1991
reg. 6(5) revoked by Personal Equity Plan 1991
reg.6(2)(a) amended by Personal Equity Plan 1993 reg.6(1)
reg.6(2)(b) substituted by Personal Equity Plan 1993 reg.6(2)
reg.6(2A)(b)(ii) substituted by Personal Equity Plan 1993 reg.6(3)
reg.6(3)(4) replaced (by paras (3)-(6)) by Personal Equity Plan 1993 reg.6(4)
reg.6(2)(ab)(ac) added by Personal Equity Plan 1995 reg.6(1)(a)
reg.6(2)(b) substituted by Personal Equity Plan 1995 reg.6(1)(b)
reg.6(2)(ba) added by Personal Equity Plan 1995 reg.6(1)(c)
reg.6(2)(c) amended by Personal Equity Plan 1995 reg.6(1)(d)
reg.6(26)(2C) added by Personal Equity Plan 1995 reg.6(2)
reg.6(3)(a)(i)(ii) replaced (by paras.(i) (ii)(iii)(iv)) by Personal Equity Plan 1995 reg.6(3)(a)
reg.6(3)(b) amended by Personal Equity Plan 1995 reg.6(3)(b)
reg.6(3)(c)(i)(ii)(iii) replaced (by paras.(i) (ii)) by Personal Equity Plan 1995 reg.6(3)(c)
reg.6(5) substituted by Personal Equity Plan 1995 reg.6(4)
reg.6(6) amended by Personal Equity Plan 1995 reg.6(5)
reg.6(7) added by Personal Equity Plan 1995 reg.6(6)
reg. 6(2)(ba) inserted by Personal Equity Plan 1991
reg. 6(3)(a)(4)(c) amended by Personal Equity Plan 1991
reg. 6(5) added by Personal Equity Plan 1991
reg. 6 amended by Personal Equity Plan 1990
reg.6(2)(b) substituted by Personal Equity Plan 1992 reg.5(2)
reg.6(3) amended by Personal Equity Plan 1992 reg.6(2)
reg.6(3)(a) revoked by Personal Equity Plan 1992 reg.6(2)
reg.6(4) substituted by Personal Equity Plan 1992 reg.6(3)
reg 6 am (pt 17.11.2003) (residue 6.4.2004) by Personal Equity Plan 2003 regs 2, 5, 6
reg.6 amended by Personal Equity Plan Regulations 2000 reg.5
reg.6(2)(e)(4)(b) amended by Deregulation (Restrictive Trade Practices Act 1976) (Variation of Exempt Agreements) 1996 reg.4
reg 6 am by Personal Equity Plan 2005 regs 2, 4(a), (b), (d)–(f), 6
reg 6 rev in pt by Personal Equity Plan 2005 regs 2, 4(c), 5
reg 6 am by Personal Equity Plan 2005 regs 2, 4

(1)

This regulation specifies the kind of investments (“qualifying investments”) which may be purchased, made or held under a plan.

(2)

Qualifying investments to which paragraph (1) refers are–

(a)

ordinary shares, not being shares in an investment trust, issued by a company which is incorporated in the United Kingdom and quoted in the official list of a recognised stock exchange in the United Kingdom or dealt in on the Unlisted Securities Market;

(b)

subject to the conditions specified in paragraph (3), investments in–

(i)

an authorised unit trust, or

(ii)

an investment trust;

(c)

cash which the plan manager is entitled to hold for investment under a plan.

(3)

The conditions specified in this paragraph are–

(a)

that the total amount of the cash subscription to the plan invested in authorised unit trusts and investment trusts in any year does not exceed one half of the subscription limit; and

(b)

that on and after 6th April 1990 at least 75 per cent. in value of the investments subject to the trusts of a unit trust scheme which is an authorised unit trust or held by an investment trust are qualifying investments within paragraph (2)(a).