The Tax-exempt Special Savings Account (Amendment) Regulations 1995
These Regulations contain amendments to the Tax-exempt Special Savings Account Regulations (S.I. 1990/2361) (“the principal Regulations”) made under powers inserted in section 326C of the Income and Corporation Taxes Act 1988 by section 62 of the Finance Act 1995. They provide that the amount deposited in a follow-up account may not exceed £3,000 in the first year for which the account is held, unless the building society or institution with which it is held has a certificate from the society or institution with which the matured account was held showing the amount deposited at the date of maturity or, if it is the same society or institution, maintains computer or paper records evidencing that amount. The amendments also require the society or institution with which the matured account was held to provide such a certificate at the request of the account-holder.