Opening and transfers

Opening by responsible person or child
5
1
In the case of each child who is first an eligible child by virtue of section 2(1)(a) the Inland Revenue must issue, in a manner prescribed by regulations, a voucher in such form as is so prescribed.
2
The voucher must be issued to the person who is entitled to child benefit in respect of the child (or, in the case of a child who is such an eligible child because of section 2(3), to a responsible person).
3
An application may be made—
a
if the child is 16 or over, by the child, or
b
otherwise, by a responsible person,
to open for the child with an account provider a child trust fund of any description provided by the account provider.
4
The application is to be made—
a
within such period beginning with the day on which the voucher is issued as is prescribed by regulations, and
b
in accordance with regulations.
5
When the application has been made the account provider must—
a
open, in accordance with regulations, a child trust fund of that description for the child, and
b
inform the Inland Revenue in accordance with regulations.
S. 5(1)(2) in force at 1.1.2005 for specified purposes by S.I. 2004/2422, art. 2
S. 5(3)-(5) in force at 1.1.2005 for specified purposes by S.I. 2004/2422, art. 2
S. 5 in force at 6.4.2005 in so far as not already in force by S.I. 2004/3369, art. 2(1)(2)(4)