UK Statutory Instrument SI 2009/2997 United Kingdom

The Saving Gateway Accounts Regulations 2009

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.

Financial Services Firm8 Any Person2

Other Acts binding the same actors

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

Financial Services Firm — also bound by 167 other Acts
Any Person — also bound by 2340 other Acts

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.007 Maturity period (and payment of maturity payments or death payments) Regulated
  • Pay maturity or death payments on Saving Gateway accounts within 21 daysFinancial Services Firm
s.008 Account ceasing to be a Saving Gateway account (and rollover certificates) Regulated
  • Provide rollover certificate to account holder on request after maturityFinancial Services Firm
s.012 Statements for an account Regulated
  • Send regular account statements and passbook updatesFinancial Services Firm
s.013 Conditions for application to open an account Regulated
  • Refuse Saving Gateway accounts if eligibility or application is invalidFinancial Services Firm
s.014 Account provider – qualifications and Commissioners’ approval Regulated
  • Obtain HMRC approval before operating Saving Gateway accountsAny Person
s.016 Account provider – withdrawal by Commissioners of approval Regulated
  • Notify account holders if HMRC withdraws your approval as an account providerFinancial Services Firm
s.018 Account provider ceasing to qualify Regulated
  • Notify HMRC and account holders if you cease to qualify as an approved account providerFinancial Services Firm
s.019 Transfer of accounts to other account providers Regulated
  • Provide transfer notice when transferring Saving Gateway accountsAny Person
s.022 Monthly return and financial claim Regulated
  • Submit monthly return and financial claim to HMRCFinancial Services Firm
s.023 Records to be kept by account provider Regulated
  • Keep records of Saving Gateway accounts for 3 years and produce them to HMRC on requestFinancial Services Firm
15 other provisions — procedural and definitional
s.001 Citation and commencement
s.002 Interpretation
s.003 Eligible persons – entitlement to working tax credit or child tax credit
s.004 Eligible persons – connection with the U.K.
s.005 Notices of eligibility
s.006 Opening of account by a person who has received a notice of eligibility
s.009 Government contribution rate
s.010 General requirements for accounts
s.011 Limit on sums paid into the account
s.015 Approved account provider – appointment of tax representative
s.017 Approved account provider ceasing to act
s.020 Recoupment of maturity payments and death payments etc.
s.021 “Repair” of invalid accounts
s.024 Information to be provided to the Commissioners
s.025 Inspection of records by officer of Revenue and Customs

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