The account cannot contain a mixture of cash, stocks and shares, innovative finance or Lifetime ISA components (SI 1998/1870, reg. 4(1A)).
The account must be managed in accordance with the ISA regulations by an ISA manager (see ¶318-000) under terms agreed between the manager and the account investor (SI 1998/1870, reg. 4(5)). There are certain terms that must be included (reg. 4(6)). These are as follows: