The Personal Equity Plan Regulations 1989

1. Introductory Text

2. 1. Citation and commencement

3. 2. Interpretation

4. 3. Introductory

5. 4. General conditions for plans and subscriptions to plans

6. 5. General investment rules

7. 6. Qualifying investments

8. 7. Qualifying individuals who may invest under a plan

9. 8. Plan investor ceasing to qualify

10. 9. Conditions for application to subscribe to a plan

11. 10. Rights issues—relaxation of provisions of regulations 4 and 7

12. 11. Plan manager—qualifications and Board’s approval

13. 12. Plan manager—withdrawal by Board of approval

14. 13. Plan manager—appeal against withdrawal of Board’s approval

15. 14. Plan manager ceasing to act

16. 15. Plan manager ceasing to qualify

17. 16. Transfer of plans to other plan managers

18. 17. Exemption from tax of plan income and gains

19. 18. Tax liabilities and reliefs—plan manager to act on behalf of plan investor

20. 19. Repayments in respect of tax to plan manager—interim claims

21. 20. Repayments in respect of tax to plan manager—annual returns and annual claims

22. 21. Plan manager’s returns and claims—supplementary provisions

23. 22. Assessments for withdrawing relief and recovering tax

24. 23. Records to be kept by plan manager

25. 24. Information to be given to plan investor by plan manager

26. 25. Information to be provided to the Board

27. 26. Inspection of records by officer of the Board

28. 27. Capital gains tax—adaptation of enactments

29. 28. Administration of tax in relation to plans—supplementary

30. 29. Transitional provisions—plans and plan investors under the 1986 Regulations

31. Signature

32. Explanatory Note