The Individual Savings Account (Amendment No. 2) Regulations 2011
1Citation and commencement
2Amendments to the Individual Savings Account Regulations 1998
3In regulation 2(1)(a) (interpretation)— (a) in the definition of “account”,...
4In regulation 2(1)(b) (interpretation), after the definition of “FISMA 2000”...
5In the Table in regulation 2(2) (index of defined terms)—...
6After regulation 2 (interpretation) insert— Meaning of account investor (1) This regulation makes provision for the meaning of “account...
7In regulation 4 (general conditions for accounts)—
8After regulation 4 insert— Subscriptions to an account other than...
9In regulation 4A (repair of certain incompatible accounts and excess...
10In regulation 4B (closure of cash account prior to the...
11Omit regulation 5A (treatment of sums held in accounts managed...
12In paragraph (3) of regulation 5B (treatment of certain sums...
13In paragraph (2) of regulation 5C (treatment of certain sums...
14In paragraphs (4) and (5) of regulation 6 (general investment...
15In regulation 7 (qualifying investments for a stocks and shares...
16In regulation 9 (insurance policies)— (a) in paragraph (1) for...
17In regulation 10 (qualifying individuals who may invest under an...
18In regulation 12 (conditions for application to subscribe to an...
19After regulation 12 insert— Conditions for application to open an...
20In paragraph (2) of regulation 14 (account manager – qualifications...
21In regulation 17 (account manager – withdrawal by Board of...
22In regulation 19 (account manager ceasing to act), at the...
23In regulation 20 (account manager ceasing to qualify)—
24In regulation 21 (transfers relating to accounts)—
25In regulation 21A (further requirements relating to transfers between cash...
26After regulation 21A, insert— Transfers relating to junior ISA accounts...
27In regulation 22 (exemption from tax of account income and...
28In regulation 23 (interest on cash deposits held under a...
29In paragraph (3) of regulation 28 (assessments for withdrawing relief...
30In regulation 30 (information to be given to account investor...
31In regulation 31 (returns of information by account manager)—
32Omit regulations 32 and 33.
33In paragraph (9) of regulation 36 (application of the provisions...

2011 No. 1780

Income Tax
Capital Gains Tax

The Individual Savings Account (Amendment No. 2) Regulations 2011

Made

Laid before the House of Commons

Coming into force

The Treasury make these Regulations in exercise of the powers conferred by sections 694 to 699 and 701 of the Income Tax (Trading and Other Income) Act 20051 and section 151 of the Taxation of Chargeable Gains Act 19922: