The Individual Savings Account (Amendment) Regulations 2024
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Change 1
23 Amendment of regulation 21
In regulation 21 (transfers relating to accounts other than junior ISA accounts)— (a) for paragraph (3) substitute— (3) The current year’s subscriptions and the previous years’ subscriptions may be transferred in whole or in part. ; (b) for paragraph (4B) substitute— (4B) Subscriptions in sub-paragraphs (a) and (b) of the definition of “the current year’s subscriptions” in paragraph (1) are to be treated, for all purposes, as if they had been made to the account held with the transferee where— (a) the current year’s subscriptions (with or without other subscriptions) are transferred under this regulation, and (b) the transferor has provided the information specified in paragraph (6), if that paragraph applies in relation to the transfer. ; (c) in paragraph (4C) omit sub-paragraphs (a), (b) and (c); (d) for paragraph (5B) substitute— (5B) Paragraph (5) does not apply where— (a) a transfer falls within paragraph (2)(b), or (b) a transferor provides information to a transferee in accordance with regulation 21A(2)(b)(ii). ; (e) in paragraph (6)— (i) omit sub-paragraph (ba); (ii) in sub-paragraph (d) omit paragraphs (vi) and (vii).
23 Amendment of regulation 21
In regulation 21 (transfers relating to accounts other than junior ISA accounts)— (a) for paragraph (3) substitute— (3) The current year’s subscriptions and the previous years’ subscriptions may be transferred in whole or in part. ; (b) for paragraph (4B) substitute— (4B) Subscriptions in sub-paragraphs (a) and (b) of the definition of “the current year’s subscriptions” in paragraph (1) are to be treated, for all purposes, as if they had been made to the account held with the transferee where— (a) the current year’s subscriptions (with or without other subscriptions) are transferred under this regulation, and (b) the transferor has provided the information specified in paragraph (6), if that paragraph applies in relation to the transfer. ; (c) in paragraph (4C) omit sub-paragraphs (a), (b) and (c); (d) for paragraph (5B) substitute— (5B) Paragraph (5) does not apply where— (a) a transfer falls within paragraph (2)(b), or (b) a transferor provides information to a transferee in accordance with regulation 21A(2)(b)(ii). ; (e) in paragraph (6)— (i) omit sub-paragraph (ba); (ii) in sub-paragraph (d) omit paragraphs (vi) and (vii).
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