Child Trust Funds Act 2004
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Change 1
7A Transfers to other accounts for children
(1) Regulations may make provision requiring an account provider, at the request of a person who has the authority to manage a child trust fund, to— (a) transfer all the investments under the fund, or an amount representing their value in cash, to a protected child account that is provided by a person chosen by the person making the request, and (b) when all the investments have been transferred, close the child trust fund. (2) An account is a protected child account if— (a) there is relief from income tax and capital gains tax in respect of investments under it, (b) it may be held only by a child, and (c) it satisfies any other conditions prescribed in regulations under this section.
7A Transfers to other accounts for children
(1) Regulations may make provision requiring an account provider, at the request of a person who has the authority to manage a child trust fund, to— (a) transfer all the investments under the fund, or an amount representing their value in cash, to a protected child account that is provided by a person chosen by the person making the request, and (b) when all the investments have been transferred, close the child trust fund. (2) An account is a protected child account if— (a) there is relief from income tax and capital gains tax in respect of investments under it, (b) it may be held only by a child, and (c) it satisfies any other conditions prescribed in regulations under this section.
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