Contributions and subscriptions
I18Initial contribution by Inland Revenue
1
The Inland Revenue must pay to an account provider such amount as is prescribed by regulations if the account provider has—
a
informed the Inland Revenue under section 5(5) or 6(3) that a child trust fund has been opened, and
b
made a claim to the Inland Revenue in accordance with regulations.
2
On receipt of the payment the account provider must credit the child trust fund with the amount of the payment.