848F Declaration on commencement.

The declaration referred to in section 848C(g) is a declaration in writing made by the qualifying individual to the qualifying savings manager which—

(a) is made and signed by the qualifying individual,

(b) is made in such form—

(i) as may be prescribed or authorised by the Revenue Commissioners, and

(ii) which contains a reference to the offence of making a false declaration under section 848T,

(c) contains the qualifying individual’s—

(i) name,

(ii) address of his or her permanent residence,

(iii) PPS Number, and

(iv) date of birth,

(d) declares at the time the declaration is made, that the qualifying individual—

(i) is resident in the State,

(ii) has not commenced another special savings incentive account,

(iii) is the person who will beneficially own the qualifying assets to be held in the account,

(iv) will subscribe to the account from funds available to him or her, or his or her spouse, from their own resources, without recourse to borrowing, or the deferral of repayment (whether in respect of capital or interest) of sums already borrowed, and

(v) will not assign or otherwise pledge qualifying assets to be held in the account as security for a loan,

and

(e) contains an undertaking that if at any time the declaration ceases to be materially correct, the qualifying individual will advise the qualifying savings manager accordingly.