Child Trust Funds Act 2004
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Change 1
12 Subscription limits
(1) No subscription may be made to a child trust fund otherwise than by way of a monetary payment. (2) Regulations may prescribe the maximum amount that may be subscribed to a child trust fund in each year (otherwise than by way of credits made under or by virtue of this Act or income or gains arising on investments under the child trust fund). (3) “Year”, in relation to a child trust fund held by a child, means— (a) the period beginning with the day on which the child trust fund is opened and ending immediately before the child’s next birthday, and (b) each succeeding period of twelve months.
12 Subscription limits
(1) No subscription may be made to a child trust fund otherwise than by way of a monetary payment. (2) Regulations may prescribe the maximum amount that may be subscribed to a child trust fund in each year (otherwise than by way of credits made under or by virtue of this Act or income or gains arising on investments under the child trust fund). (3) “Year”, in relation to a child trust fund held by a child, means— (a) the period beginning with the day on which the child trust fund is opened and ending immediately before the child’s next birthday, and (b) each succeeding period of twelve months.
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