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The Savings Certificates (Amendment) Regulations 1994
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- UK Statutory Instruments
- 1994 No. 343
- Regulation 4
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4. In regulation 5—
(a)for the words “, or hold any” in paragraph (1), there shall be substituted the words “of a unit series, or hold any such”; and
(b)after paragraph (1) there shall be inserted the following new paragraphs—
“(1A) A person shall not purchase any money value certificates, or hold any such certificates purchased on his behalf under regulation 4(2), if, immediately after the purchase, he will hold (whether solely or jointly with any person) certificates the aggregate purchase price of which will exceed the sum specified by or in accordance with the prospectus as the maximum value of certificates, in terms of purchase price, which may be held by any one person in relation to that description of certificate (and such prospectus may provide that different maximum values shall apply in different circumstances).
(1B) Where any of the certificates, the respective purchase price of which are required to be aggregated for the purposes of paragraph (1A) above, is a replacement certificate issued under regulation 6(2A), the purchase price of any such certificate shall for those purposes be taken to be the amount shown on the replacement certificate.”.
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