text: (a) “new account” means a financial account maintained by a reporting financial 
  
  institution(**a**) opened on or after 13th May 2020; 
  
  (b) “pre-existing account” means— 
  
  (i) a financial account maintained by a reporting financial institution as of 12th 
  
  May 2020, or 
  
  (ii) a financial account within Section VIII(C)(9)(b) of Annex 1 of the DAC(**b**), 
  but in the application of that provision the references to “subparagraph 
  C(9)(a)” are to be read as references to paragraph (i) of this sub-paragraph. 
  
  (4) The accounts are— 
  
  (a) non-registered pension arrangements where the annual contributions are limited to 
  £50,000 and funds contributed cannot be accessed before the age of 55 except in 
  circumstances of serious ill health; 
  
  (b) Premium Bonds issued by the UK National Savings and Investments; 
  
  (c) Fixed Interest Savings Certificates issued by the UK National Savings and 
  
  Investments; and 
  
  (d) Index Linked Savings Certificates issued by the UK National Savings and 
  Investments.”. 
  
  (5) In Schedule 2, omit paragraphs 2, 6, 8 and 9. 