Clause 5 - Opening by responsible person
Child Trust Funds Bill
9:45 am
Mr Joe Benton (Bootle, Labour)
With this it will be convenient to discuss the following amendments:
No. 192, in
clause 5, page 3, line 36, leave out from 'within' to 'apply' in line 37 and insert
'a period of six months beginning with the day on which the voucher is issued'.
No. 17, in
clause 5, page 3, line 39, at end insert
'in accordance with the provisions of subsections (3A) and (3B).
'(3A) An application for the opening of a child trust fund may take the form of the responsible person—
(a) giving the voucher to an account provider, or
(b) otherwise informing the account provider that he is a responsible person who has been issued with a voucher.
(3B) Regulations may prescribe—
(a) the period beginning with the day on which the voucher is issued within which an application may be made, and
(b) the means by which information given in accordance with subsection (3A) must be provided and authenticated.'.
No. 18, in
clause 5, page 3, line 40, leave out 'receipt of the voucher' and insert 'provision of the application'.
No. 115, in
clause 5, page 3, line 40, leave out 'must' and insert 'may'.
No. 116, in
clause 5, page 3, line 43, leave out 'in accordance with regulations' and insert
'within four weeks of receipt of the voucher'.
No. 118, in
clause 6, page 4, line 9, leave out 'in accordance with regulations' and insert
'within four weeks of receipt of the application'.
No. 25, in
clause 6, page 4, line 15, leave out '5(3)' and insert '5(3B)(a)'.
No. 166, in
clause 12, page 6, line 43, at end add—
'(4) The Inland Revenue shall publish proposals for subscriptions to be made to child trust funds by electronic means.'.