Commentary Section 9 Statements etc.
63.Section 9 gives the Treasury power to make regulations concerning account statements to be issued by account providers.
64.Subsection (1) gives the Treasury the power to make regulations requiring account providers to send account statements to account holders. Regulations may specify the information that account statements must contain, and how often they are to be sent to account holders. The Government intends to provide in regulations that account statements containing specified information should be issued to account holders on a six-monthly basis, subject to certain exceptions in relation to accounts for which passbooks are provided.
65.Subsection (2) disapplies section 234A of the Income and Corporation Taxes Act 1988(9), so that there is no duty on account providers to supply information to account holders concerning the distribution of interest on a Saving Gateway account.