The Individual Savings Account (Amendment) Regulations 2005

• Citation: S.I. 2005/609
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2005 and shall come into force on 6th April 2005.

Section 2 Amendment of the Individual Savings Account Regulations 1998

The Individual Savings Account Regulations 1998 are amended as follows.

Section 3 Amendment of the Individual Savings Account Regulations 1998

For regulation 4C(3)(a) substitute—

(a) the condition in regulation 7(15) shall be applied to those policies on 6th April 2005, modified as if for “the date” to “five years” there were substituted “6th April 2005”;

Section 4 Amendment of the Individual Savings Account Regulations 1998

In regulation 7(15) —

(a) for “during the” to “time when” substitute “at the date on which the qualifying investments in question become held in the account, and at any later time (if any) which has elapsed during the succeeding five years”;

(b) for “had” substitute “do not have”;

(c) for “was not” substitute “is not”.