The Personal Equity Plan (Amendment) Regulations 2007

• Citation: S.I. 2007/2120
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Personal Equity Plan (Amendment) Regulations 2007 and shall come into force on 6th April 2008.

Section 2 Amendment of the Personal Equity Plan Regulations 1989

The Personal Equity Plan Regulations 1989 are amended as follows.

Section 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 .

Section 4 Revocation of the Personal Equity Plan Regulations 1989

(1) The Personal Equity Plan Regulations 1989 (other than regulation 4(1)) shall cease to have effect for the tax year 2008-09 and subsequent tax years.

(2) Regulation 4(1) of those Regulations shall cease to have effect on 5th April 2009.