The Individual Savings Account (Amendment) Regulations 2004

Citation and commencement

1.  These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2004 and shall come into force on 22nd July 2004.

Amendment of the Individual Savings Account Regulations 1998

2.  The Individual Savings Account Regulations 1998(1) (“the principal Regulations”) are amended as follows.

3.  In regulation 2(1)(b)—

(a) insert at the appropriate place the following definition—

““the New Collective Investment Schemes Sourcebook” means the sourcebook of that name made by the Financial Services Authority under the Financial Services Markets Act 2000;”;

(b) for the definition of a “Chapter 5 UCITS” substitute—

“a “Chapter 5 UCITS” means—

(i)

in relation to any time on or before 12th February 2007, a UCITS complying with Chapter 5 of the Collective Investment Schemes Sourcebook or Chapter 5 of the New Collective Investment Schemes Sourcebook, and

(ii)

in relation to any time after 12th February 2007, a UCITS complying with Chapter 5 of the New Collective Investment Schemes Sourcebook;”;

(c) at the end of the definition of “the first condition” for “or warrant schemes;” substitute “, warrant schemes or Chapter 5 UCITS;”; and

(d) in the definition of “the second condition” for the words “or warrant scheme” substitute “, warrant scheme or Chapter 5 UCITS,”.

Joan Ryan

Derek Twigg

Two of the Lords Commissioners of Her Majesty’s Treasury

1st July 2004