S.I. 2005/3348 and S.I. 2005/3350:
Memorandum from the Commissioners for Her Majesty's Revenue and
Customs
Personal Equity Plan (Amendment No. 2) Regulations
2005 (S.I. 2005/3348) and Individual Savings Account (Amendment
No. 3) Regulations 2005 (S.I. 2005/3350)
1. The Committee requests a
reply to the following questions:
Regulation 3(b) of S.I. 2005/3348
and regulation 4(c) of S.I. 2005/3350 each refer to two publications:
the New Collective Investment Schemes Sourcebook and the Financial
Services Authority Handbook. Why do the instruments not include
a reference to the date of publication and the edition of these
documents, as required by paragraph 2.8.1 of Statutory Instrument
Practice? If the intention is that the references are to be read
as references to those publications as amended from time to time,
identify the statutory provision which permits this.
2. The FSA Handbook is a daily
reference source for those working in the financial services industry
(who form the ordinary readership of ISA/PEP Regulations) and
is amended monthly as required. As such, we think that a reference
to the Handbook is more informative to that audience than any
reference in footnotes to the underlying amending instruments,
which are the closest approximation to an "edition"
of the Handbook.
3. The references to particular
sections of the FSA Sourcebook are not intended to include future
amendments (and are merely an example of the wording which precedes
them).
Her Majesty's Revenue and Customs
