invalid account definition
invalid account means a scheme of investment which is not exempt from tax under these Regulations but which (if so exempt) would be an account, within the meaning in [F114regulation 4(1A)(a)] and, in relation to an invalid account, references to an account [F115and component] have corresponding meanings; and
invalid account means a scheme of investment which is not exempt from tax under these Regulations but which (if so exempt) would be an account, within the meaning in regulation 4(1)(a) and, in relation to an invalid account, references to an account, a