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Qualifying arrangements (learning account holders)

2.—(1) For the purposes of section 2 of the Act, arrangements qualify under that section if–

(a)they take the form of registration by a qualifying person, being a learning account holder, with the Scottish Ministers in accordance with regulation 4; and

(b)the registration has not been cancelled or withdrawn in accordance with regulation 4(6) to 4(8);

(2) The qualifying arrangements as specified in paragraph (1) are identified under the names “ILA Scotland Targeted Arrangements” and “ILA Scotland Universal Arrangements.”.

(3) The qualifying arrangements named “ILA Scotland Targeted Arrangements” and “ILA Scotland Universal Arrangements” are collectively known as “ILA Scotland”.