
1 

(1) These Regulations may be cited as the Personal Equity Plan (Amendment) Regulations 1988 and, subject to paragraph (2) below, shall come into force on 22nd April 1988.
(2) Regulations 3 and 7 shall come into force on 29th April 1988.
2 
In these Regulations, “the Principal Regulations” means the Personal Equity Plan Regulations 1986 and “regulation” means a regulation of the Principal Regulations.
3 
In regulation 2(1) for sub-paragraph (b) there shall be substituted —“
(b) 
 “authorised unit trust” means a unit trust scheme in the case of which an order under section 78 of the Financial Services Act 1986 is in force and which is an authorised securities scheme within the meaning of the Authorised Unit Trust Scheme (Investment and Borrowing Powers) Regulations 1988;
 “unit holder” means a person entitled to a share of the investments subject to the trusts of a unit trust scheme;
 “unit trust scheme” has the same meaning as in section 469 of the Income and Corporation Taxes Act 1988;and references to a “unit” include references to a fraction of a unit.”
4 
In regulations 4(1)(c), 13(2)(a) and 13A(1)(a)(a) for “£2,400” there shall be substituted “£3,000”.
5 
In regulation 6(2)(b) for “£420” there shall be substituted “£540”.
6 
In regulation 7(2)(a) for “£240” there shall be substituted “£300”.
7 
Sub-paragraphs (i), (ii) and (iii) of regulation 16(2)(b) are hereby revoked.
Mark Lennox-Boyd
David Lightbown
Two of the Lords Commissioners of Her Majesty’s Treasury
30th March 1988