(1) A special savings incentive account is treated as maturing -
(a) on the fifth anniversary of the end of the month in which a subscription was first made to the account where the qualifying individual has made a declaration of a kind referred to in section 848I and the qualifying savings manager is in possession of that declaration at that time, or,
(b) on the day of the death of the qualifying individual,
whichever event first occurs.
(2) A special savings incentive account is treated as ceasing, where at any time before the account is treated as maturing -
(a) any of the terms referred to in section 848C are not complied with, or
(b) the qualifying individual is neither resident nor ordinarily resident in the State.
(3) Where a special savings incentive account is treated as maturing or ceasing -
(a) the account thereafter shall not be a special savings incentive account for the purposes of section 848E, and
(b) the assets remaining in the account after having regard to all liabil
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