The Child Trust Funds (Amendment No. 2) Regulations 2006
These Regulations amend the Child Trust Funds Regulations 2004 (S.I. 2004/1450). The principal effects of the amendments are to (a) revise the requirements for local authorities to notify H.M. Revenue and Customs of children who come to be looked after by the authority (b) to provide for an additional situation where the Official Solicitor will administer the CTF accounts of certain children and (c) to remove the requirement for providers to pay daily interest on cash deposits for a stakeholder account where the cash is held temporarily pending reinvestment (where the interest can be minimal in amount and an administrative burden).