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Income Tax Act 2007

Section 467: Meaning of “settlor” etc

1354.This section defines “settlor”. It is based on section 685B of ICTA.

1355.The definition corresponds to that in section 68A of TCGA.

1356.The section introduces a new term “disposable property”, defined in section 468.

1357.Subsection (6) is concerned with the case where one person makes or enters into a settlement in accordance with reciprocal arrangements with another person.

1358.As subsection (8) makes clear, a wider definition of “settlor” applies to the anti-avoidance provisions in Chapter 5 of Part 5 of ITTOIA.

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