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Child trust funds and looked-after children

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The Child Trust Funds (Amendment No 2) Regulations, SI 2017/748, provide that, with effect from 1 October 2017, the person with authority to manage child trust fund (CTF) accounts of ‘looked-after children’ is the person appointed by the Treasury or Secretary of State (replacing references to the Official Solicitor and Accountant of Court). From 1 October, the appointed person will be The Share Foundation. The regulations also remove the requirement for local authorities to provide information to HMRC where a child becomes looked after, as this information will in future be provided directly to the appointed person.