The Individual Savings Account (Amendment No. 3) Regulations 2008

• Citation: S.I. 2008/3025
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Individual Savings Account (Amendment No. 3) Regulations 2008 and shall come into force on 16th December 2008.

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

In regulation 2(1)(a) in the definition of “security”—

(a) for “(cb) and (8)(b), 8(2)(e) and (f), 31(4)(b)” substitute “(cc) and (8)(b), 8(2)(f)”;

(b) at the end add “, and in regulation 7(2)(cc) has the same meaning but with the omission of the words “of a company””.

Section 4 Amendment of the Individual Savings Account Regulations 1998

In regulation 7(2) (qualifying investments for a stocks and shares component) after sub-paragraph (cb) insert—

(cc) securities issued by a multilateral institution, contributions to which may be reported as official development assistance, listed in Part I of Annex 2 to the DAC Statistical Reporting Directive (approved by the Development Assistance Committee of the Organisation for Economic Co-operation and Development), where the securities satisfy the conditions in paragraphs (5)(b) and (6);