1. These Regulations may be cited as the Financial Services and Markets Act 2000 (Stakeholder Products) (Amendment) Regulations 2005 and come into force on 6th April 2005.

2. —(1)The Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004( 3 ) are amended as follows.

(2) In paragraph (b) of regulation 4 (certain deposit accounts)—

(a) for “as a means of payment to the account payment by” substitute—

• “ payment to the account by any of the following means, at the option of the account-holder ” ;

(b) omit sub-paragraph (iii).

(3) In paragraph (2)(b) of regulation 7 (characteristics and conditions applicable to certain stakeholder products) for the words from “as a means” to “payment by” substitute—

• “ payment to the investment scheme by any of the following means, at the option of the investor ” .