The Financial Services and Markets Act 2000 (Stakeholder Products) (Amendment) Regulations 2005

• Citation: S.I. 2005/594
• Sections: 2

Section 1

These Regulations may be cited as the Financial Services and Markets Act 2000 (Stakeholder Products) (Amendment) Regulations 2005 and come into force on 6th April 2005.

Section 2

(1) The Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004 are amended as follows.

(2) In paragraph (b) of regulation 4 (certain deposit accounts)—

(a) for “as a means of payment to the account payment by” substitute—

payment to the account by any of the following means, at the option of the account-holder

(b) omit sub-paragraph (iii).

(3) In paragraph (2)(b) of regulation 7 (characteristics and conditions applicable to certain stakeholder products) for the words from “as a means” to “payment by” substitute—

payment to the investment scheme by any of the following means, at the option of the investor