1Confirmation of deed of settlement.
The said deed of settlement is hereby confirmed, and shall have effect as if enacted in this Act, but nothing in this Act shall prejudice or affect the right, title, or interest, if any, of any person in or to the Chequers Estate other than the right, title, or interest of the parties to the said deed of the first, second, and third parts.
2Powers of Commissioners of Works.
The Commissioners of Works shall have power to hold the lands and chattels expressed to be vested in them under the said deed and to act as custodian trustee under that deed.
3Provisions as to taxes and duties.
(1)So long as Sir Arthur Lee and Lady Lee or the survivor of them continue to retain a beneficial interest in possession in the property settled by the said deed, or any part thereof, the property or such part thereof and Sir Arthur Lee and Lady Lee and the survivor of them in respect thereof shall remain liable to income tax, inhabited house duty, and all other taxes. On Sir Arthur Lee and Lady Lee or the survivor of them ceasing to have any beneficial interest in possession in the said property or any part thereof, the property or such part, and the trustees thereof, and any person having a beneficial interest therein, shall be exempt from all such taxes and from death duties :
Provided that this exemption shall cease to apply to any part of the Chequers Estate which may be sold, and in the event of any part thereof being leased to any person other than the Board of Agriculture and Fisheries, nothing in this section shall exempt the lessee, or any person claiming through him, from liability to any duty or tax in respect of his interest therein.
(2)On the death of Sir Arthur Lee, if Lady Lee has predeceased him, or if Lady Lee survives him and within six months after his death surrenders, or otherwise ceases to retain any interest in, the said property (other than the rights specified in paragraphs (a) and (b) of clause four of the said deed), then, for purposes of death duties the property, other than such rights as aforesaid, shall be deemed not to be property passing on the death of Sir Arthur Lee or Lady Lee.
(3)No stamp duty shall be charged on the said recited deed, or on any deed made thereunder or in accordance therewith.
4Short title.
This Act may be cited as the Chequers Estate Act 1917.