{
  "url": "https://openlegislation.uk/tax-exempt-special-savings-account-regulations-1990/note",
  "json_url": "https://openlegislation.uk/tax-exempt-special-savings-account-regulations-1990/note.json",
  "legislation": "uksi/1990/2361",
  "legislation_title": "The Tax-exempt Special Savings Account Regulations 1990",
  "legislation_url": "https://openlegislation.uk/tax-exempt-special-savings-account-regulations-1990",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations, which come into force on 19th December 1990, are made under section 326C(1) of the Income and Corporation Taxes Act 1988. They make provision for tax-exempt special savings accounts (“accounts”) in addition to that provided in sections 326A and 326B of that Act. They prescribe an additional condition which must be satisfied by accounts and provide for building societies and institutions authorised under the Banking Act 1987 to notify the Board that they intend to operate accounts, specify the conditions for applications by individuals for such accounts to be opened, provide for societies and institutions to deliver returns in connection with such accounts, for the transfer of such accounts and for societies and institutions to be prohibited from operating new accounts in certain circumstances, and make provision for the circumstances arising when an institution ceases, or ceases to be entitled, to operate accounts.\nThe Regulations also provide for institutions to keep records relating to accounts, for the provision of information by societies and institutions relating to such accounts, and for the inspection of those records by officers of the Board.\nRegulation 1 provides for citation and commencement.\nRegulation 2 contains definitions.\nRegulation 3 is introductory.\nRegulation 4 prescribes an additional condition as to transferability of accounts.\nRegulation 5 provides for societies and institutions to give notice that they intend to operate accounts.\nRegulation 6 provides conditions for individual applications.\nRegulation 7 provides for transfers of accounts from one society or institution to another.\nRegulation 8 makes provision for the Board to give a notice prohibiting a society or institution from operating any new account in certain circumstances and regulation 9 provides for an appeal against such a notice.\nRegulation 10 requires a society or institution to give notice to the Board when ceasing to operate accounts.\nRegulation 11 specifies circumstances in which an institution ceases to be entitled to operate accounts.\nRegulations 12 and 13 provide for societies and institutions to make returns giving aggregate information about accounts operated by them and returns giving information about individual accounts.\nRegulation 14 provides for a society or institution to keep records.\nRegulations 15 and 16 empower the Board to obtain information and to inspect records.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/2361/note",
    "retrieved_at": "2026-10-29T14:56:50.304367+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}