UK Statutory Instrument SI 1990/2361 United Kingdom

The Tax-exempt Special Savings Account Regulations 1990

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person5 Trader3

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.005 Notification by society or institution of intention to operate accounts Regulated
  • Notify HMRC before operating tax-exempt savings accountsTrader
s.006 Conditions for application for an account to be opened Regulated
  • Do not accept TESSA applications from ineligible individualsAny Person
s.007 Transfer of accounts Regulated
  • Provide account transfer details and declaration to new provider within 30 daysAny Person
s.010 Society or institution ceasing to act Regulated
  • Notify HMRC and account-holder before ceasing to operate a TESSA accountAny Person
s.011 Society or institution ceasing to be entitled to operate accounts Regulated
  • Notify HMRC immediately if you lose authorisation or enter insolvencyAny Person
s.012 Return of aggregate information by society or institution Regulated
  • Submit quarterly aggregate information returns on tax-exempt savings accountsTrader
s.013 Return of individual information by society or institution Regulated
  • Submit annual account holder returns to HMRCTrader
s.014 Records to be kept by society or institution Regulated
  • Keep records of tax-exempt special savings accounts for at least two years after closureAny Person
8 other provisions — procedural and definitional
s.001 Citation and commencement
s.002 Interpretation
s.003 Introductory
s.004 Additional condition as to transferability
s.008 Prohibition notices
s.009 Appeals against prohibition notices
s.015 Information to be provided to the Board
s.016 Inspection of records by officer of the Board

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.