HC Deb 03 February 2004 vol 417 c715

Amendments made: No. 33, in page 2, line 45, leave out from 'that' to end of line 46 and insert

'instructions may be given to the account provider with respect to its management only by the person who has the authority to manage it.'.

No. 34, in page 3, line 3, leave out subsection (6) and insert— '(5A) The person who has the authority to manage a child trust fund held by a child—

  1. if the child is 16 or over, is the child, and
  2. if the child is under 16, is the person who has that authority by virtue of subsection (5B).
(5B) If there is one person who is a responsible person in relation to the child, that person has that authority; and if there is more than one person who is such a person which of them has that authority is to be determined in accordance with regulations. (6) For the purposes of this Act a person is a responsible person in relation to a child under 16 if the person has parental responsibility in relation to the child and is not—
  1. a local authority or, in Northern Ireland, an authority within the meaning of the Children (Northern Ireland) Order 1995 (S.I. 1995/755 (N.I.2)), or
  2. a person under 16.'.
 No. 35, in line 14, at end insert— '() Where a contract is entered into by or on behalf of a child who is 16 or over in connection with a child trust fund—
  1. held by the child, or
  2. held by another child in relation to whom the child has parental responsibility,
the contract has effect as if the child had been 18 or over when it was entered into.'. — [Ruth Kelly.]

Back to
Forward to