The Child Trust Funds (Amendment) Regulations 2013

• Citation: S.I. 2013/263
• Sections: 2

Section 1 Citation, commencement and effect

(1) These Regulations may be cited as the Child Trust Funds (Amendment) Regulations 2013.

(2) This regulation and regulations 2(1), 2(3) and 2(4) come into force on 16th March 2013, from when regulation 2(3) has effect in respect of what would otherwise be fortnightly and initial return periods within regulation 30(1) of the Child Trust Funds Regulations 2004 beginning on or after that day.

(3) Regulation 2(2) comes into force on 6th April 2013.

Section 2 Amendment of the Child Trust Funds Regulations 2004

(1) The Child Trust Funds Regulations 2004 are amended as follows.

(2) In regulation 9(2) and 9(3) (annual limit on subscriptions), for “£3,600” substitute “£3,720”.

(3) Omit regulation 30 (fortnightly claim and financial returns).

(4) In consequence of paragraph (3) –

(a) in regulation 1 (citation and commencement), omit paragraph (f) (and the “and” before it), and

(b) in the table in regulation 2(2) (interpretation), omit the entries in relation to “first return period”, “fortnightly period” and “second return period”, and

(c) in regulation 14(2) (account provider – qualifications and Board’s approval), omit sub-paragraph (c), and

(d) in regulation 21(5) (transfer of accounts to other account providers), in sub-paragraph (b)(iv) for “26, 27 or 30” substitute “26 or 27”.