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Income Tax Act, 1962 (Act No. 58 of 1962)

Regulations

Regulations in terms of section 12T(8) of the Income Tax Act, 1962, on the requirements for Tax Free Investment

Part IV : Withdrawal and transfer

7. Withdrawal and transfer

 

 

A product provider or an issuer may not transfer or deposit an amount that is withdrawn in respect of a tax free investment owned by an investor who is a minor into an account other than into an account—

(a) that is held in the name of that investor; or
(b) of the deceased estate of that investor,

who is a minor.