Common use of Control and Access Clause in Contracts

Control and Access. 26.1 For CTFs, JISAs and bare trusts, once the child reaches 18 years old (16 years in Scotland for bare trusts), control of the portfolio(s) will transfer to the child without incurring any tax liability. We will write to holders of JISAs at this time and ask whether they wish to maintain their investments with us, by completing an ISA Application/ Transfer Form to include details of their National Insurance Number, transfer to another provider or encash any stocks and shares held and close the portfolio(s) held by us for them. The child can also apply for control of the portfolio(s) from the age of 16 years upon production of a valid National Insurance Number and written correspondence authorising the transfer of control. 26.2 Until the child takes control of the portfolio(s), you will control the investment and be responsible for ensuring it is appropriate. Please note that while any investments will continue to benefit from the tax advantages of an ISA, no further subscriptions can be accepted.

Control and Access. 26.1 For CTFs, JISAs and bare trusts, once the child reaches 18 years old (16 years in Scotland for bare trusts), control of the portfolio(s) account will transfer to the child without incurring any tax liability. We will write to holders of JISAs at this time and ask whether they wish to maintain their investments with us, by completing an ISA Application/ Transfer Application Form to include details of their National Insurance Number, transfer to another provider or encash any stocks and shares held and close the portfolio(s) account held by us for them. The child can also apply for control of the portfolio(s) account from the age of 16 years upon production of a valid National Insurance Number and written correspondence authorising the transfer of control. 26.2 Until the child takes control of the portfolio(s)account, you will control the investment and be responsible for ensuring it is appropriate. Please note that while whist any investments will continue to benefit from the tax advantages of an ISA, no further subscriptions can be accepted.