An account investor (see ¶315-200) is able to transfer an ISA or part of an ISA to another ISA manager or to a new ISA with the same manager. The transfer has to be made directly from the old manager to the new (or by the manager himself, where this is an internal transfer to a new account). It is not possible for the account investor to perform the transfer himself by closing the old account and using the proceeds to open a new one (SI 1998/1870, reg. 21(2)).
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