S&S ISA - Rules

wary

I have a share dealing account with First Direct/HSBC (not exactly the best but convenient because of my Offset mortgage account). Because of this, I also have my S&S ISA with them.

It's a long time since I've done this but I believe that the two are linked and that I have to transfer money into my S&S ISA from my main share dealing account in order to purchase shares for my ISA.

Questions are:
1) Instead of transferring cash, can I transfer shares that I have purchased within my main share dealing account to my ISA account, up to the value of £10200 for this tax year?
2) In order not to lose my 2010/11 entitlement, can I still transfer the cash (£10200) into my S&S ISA even if I don't actually purchase any shares until 2011/12?

Thanks

Lokolo

1) No. You'd have to sell then rebuy.

2) Yes. And then on April 6th you can top it another £10,680, then have £21k to "splash out" on shares.