Common use of JUNIOR ISA SUBSCRIPTIONS Clause in Contracts

JUNIOR ISA SUBSCRIPTIONS. 5.1 Any subscriptions made to the Junior ISA are a gift to the Eligible Child. 5.2 Whilst the Eligible Child is alive, any person may make a subscription to a Junior ISA provided the subscription is by a cash payment method and the overall amount subscribed does not exceed the Overall Subscription Amount. 5.3 No subscription may be made to a Junior ISA once the Eligible Child has reached eighteen years of age. 5.4 Only one Junior ISA may be held for the entire period during which a child remains an Eligible Child. The subscriptions will always be applied to the same Junior ISA regardless of the tax year in which the subscription is received. 5.5 If Pershing receives information that there is a more recent Junior ISA held by an Eligible Child than the Junior ISA with us, then Pershing shall deal with this in accordance with the ISA Regulations. 5.6 If Xxxxxxxx receives a subscription which exceeds the Overall Subscription Amount then that amount cannot be applied to the Junior ISA with Xxxxxxxx, and Xxxxxxxx will return that proportion of the cash received to the person who paid those funds to Pershing. If monies in excess of the Overall Subscription Amount are discovered to have already entered the Junior ISA, then such funds will be dealt with in accordance with the ISA Regulations.