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Article: Regulation dithering affects CTF committal.
- Article from:
- Investment Adviser
- Article date:
- August 16, 2004
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GOVERNMENT dawdling on child trust fund regulations is preventing fund managers from committing to the savings vehicle.
While Norwich Union and Fidelity have announced plans to offer the products, other providers have been hesitant.
This is because with only four months to go before cheques are sent out to children born after 1 September 2002, full details of what the fund would have to offer have yet to be published.
On 6 August, the Treasury published the latest draft amendments to the regulations laid down in May.
Amendments to the rules for the child trust funds included allowing early access to the cash in the accounts if the child ...