The Child Trust Funds Regulations 2004
| Jurisdiction | UK Non-devolved |
| Citation | SI 2004/1450 |
- “child”
- “child trust fund”
- “eligible child”
- F87“the income threshold” (see section 9(6) of the Act)
- “Inland Revenue”
- “Inland Revenue contributions” (see section 11(2) of the Act) ,
- “parental responsibility” (see section 3(9) of the Act) ;
- F87“the relevant income” (see section 9(6) of the Act)
- “relevant person” (see section 15(2) of the Act) ,
- F87“relevant social security benefit” (see section 9(6) of the Act)
- “responsible person” ... (see section 3(8) of the Act) ,
- F87“tax year” (see section 9(6) of the Act)
- “the person entitled to child benefit in respect of the child” (see section 2(1) (a) , (4) and (6) of the Act) ;
- “account” means a scheme of investment which (except in regulation 22(1) ) qualifies as a child trust fund, other than in the cases of—
- (i) an account with a deposit-taker,
- (ii) a share or deposit account with a building society, or
- (iii) a deposit account with a person falling within F219section 991(2) of the Income Tax Act 2007, or a F124credit union;
- an “account investment” is an investment under the account which is a qualifying investment for an account within the meaning of regulation 12;
- an “account provider” is a person who fulfils the conditions of these Regulations and is approved by the Board for the purpose of these Regulations as an account provider;
- F141“adoption order” has the meaning in section 46(1) of the Adoption and Children Act 2002 or section 28 of the Adoption and Children (Scotland) Act 2007 or of “Adoption Order” in Article 2(2) of the Adoption (Northern Ireland) Order 1987, as the case may be, and includes any corresponding order under the Adoption (Scotland) Act 1978, and any order of a court in the Isle of Man or any of the Channel Islands which, under section 108 of the Adoption and Children Act 2002, is declared to correspond to an adoption order made under that Act;
- “appointed day” means the day appointed, under section 27 of the Act, for the purposes of sections 8 and 9 of the Act;
- “assurance undertaking” F263means a direct life insurance undertaking within the meaning of Article 2 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) ;
- F39“Bank of England base rate” means the rate announced from time to time by the Monetary Policy Committee of the Bank of England as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short-term liquidity in the money markets;
- F66“the Board” means the Commissioners for Her Majesty’s Revenue and Customs;
- “building society” means a building society within the meaning of the Building Societies Act 1986 , or the Irish Building Societies Act 1989 ;
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F80“building society bonus”, except in regulation 24(a) (i) , excludes any bonus, distribution of funds or the conferring of rights in relation to shares—
- (a) in connection with an amalgamation, transfer of engagements or transfer of business of a building society, and
- (b) mentioned in section 96 or 100 of the Building Societies Act 1986,
- “company”, except in regulation 12(4) (a) , means any body corporate having a share capital other than—
- (i) an open-ended investment company, within the meaning given by section 236 of the Financial Services and Markets Act 2000, F261or
- (ii) a UCITSF255;
- (iii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- (iv) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- F38“credit union” means a society registered as a credit union under the Industrial and Provident Societies Act 1965 or the Credit Unions (Northern Ireland) Order 1985;
- “deposit-taker” has the meaning given by F125section 853 (as extended under section 854) of ITA 2007;
- “the Director of Savings” has the same meaning as in the National Debt Act 1972 ;
- “the Distance Marketing Directive” means Directive 2002/65/EC of the European Parliament and of the Council of 23rd September 2002 , and includes any provisions by which an EEA State or the United Kingdom has transposed the Directive or has corresponding obligations in its domestic law, and “distance contract” has the meaning in that Directive;
- “electronic communications” includes any communications by means of a telecommunication system (within the meaning in the Telecommunications Act 1984 ) ; ... ...
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F299“European institution” means—
- (a) a person who is treated as having permission to carry on a regulated activity in the United Kingdom under Part 4A of the Financial Services and Markets Act 2000 by regulation 8, 11, 28 or 34 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018; or
- (b) an EEA firm (within the meaning of Article 2(3G) of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001 of the kind mentioned in paragraph 5(a) to (d) , (f) and (h) of Schedule 3 to the Financial Services and Markets Act 2000 which is an authorised person for the purposes of that Act as a result of qualifying for authorisation under paragraph 12(1) to (4) and (7) of that Schedule.
- “51 per cent. subsidiary” and “75 per cent. subsidiary” have the meanings given by section 838 of the Taxes Act;
- F141“FISMA 2000” means the Financial Services and Markets Act 2000;
- “gains”, except in regulations 22(1) to (3) , 24(a) (ii) , (iii) and (v) , 37(5) and 38, means “chargeable gains” within the meaning in the 1992 Act;
- “gilt-edged securities” has the meaning given by paragraphs 1 and 1A of Schedule 9 to the 1992 Act ;
- F141“guardian” means a guardian of a child within the meaning in section 5 of the Children Act 1989, section 7 of the Children (Scotland) Act 1995 or Article 2(2) of the Children (Northern Ireland) Order 1995, as the case may be;
- “incorporated friendly society” means a society incorporated under the Friendly Societies Act 1992 ; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- “investments under the account” has the same meaning as investments under a child trust fund in the Act;
- F264“investment trust” means an investment trust within the meaning of section 1158 of the Corporation Tax Act 2010;
- F141“ITA 2007” means the Income Tax...
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