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This guidance is issued by the Department under Section 7 of the Local Authority Social Services Act 1970, which requires local authorities in exercising their social services functions to act under the general guidance of the Secretary of State. This guidance should be complied with by local authorities when exercising these functions, unless local circumstances indicate exceptional reasons that justify a variation.
Paragraph 11, guidance to independent reviewing officers, is issued under section 25B(2)(b) of the Children Act 1989.
This guidance will next be reviewed in September 2015.
Children Act 1989 Section 22.
This guidance is for local authority:
Children who have been looked after for 12 months or more and who are not eligible for a Child Trust Fund are entitled to a £200 payment from the Government into a Junior ISA.
The Department has contracted The Share Foundation to administer the scheme until the end of March 2015. The Share Foundation will open and manage accounts using independent selection advice while children remain looked-after. They will also seek to raise additional funding from charitable sources for distribution to the accounts, and support the financial education of looked-after children at appropriate times so that they can understand how best to use the financial asset of their account.
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Information on junior independent savings accounts for looked-after children.
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