- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (02/12/2019)
- Gwreiddiol (Fel y'i Deddfwyd)
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Taxation of Chargeable Gains Act 1992, Paragraph 9 is up to date with all changes known to be in force on or before 15 July 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F19(1)For the purpose of Condition 4 a person is a beneficiary under a settlement—U.K.
(a)if—
(i)any property which is or may at any time be comprised in the settlement, or
(ii)any derived property,
is, or will or may become, payable to him or applicable for his benefit in any circumstances whatsoever, or
(b)if he enjoys a benefit deriving directly or indirectly from—
(i)any property which is comprised in the settlement, or
(ii)any derived property.
(2)But for the purpose of Condition 4 a person is not to be regarded as a beneficiary under a settlement if property comprised in the settlement, or any derived property, will or may become payable to him or applicable for his benefit by reason only of—
(a)his marrying, or entering into a civil partnership with, a beneficiary under the settlement,
(b)the death of a beneficiary under the settlement,
(c)the exercise by the trustees of the settlement of—
(i)a power conferred by section 32 of the Trustee Act 1925 (c. 19) or section 33 of the Trustee Act (Northern Ireland) 1958 (c. 23 (N.I.)) (powers of advancement),
(ii)a power conferred by the law of a jurisdiction other than England and Wales or Northern Ireland which makes provision similar to the provisions specified in sub-paragraph (i), or
(iii)a power of advancement which is conferred by the instrument creating the principal settlement, or by another instrument made in accordance with the terms of the principal settlement, and which is subject to the same restrictions as those specified in section 32(1)(a) and (c) of the Trustee Act 1925, or
(d)the failure or determination of trusts of the kind described in section 33 of the Trustee Act 1925 (protective trusts).
(3)In this paragraph “derived property”, in relation to any property, means—
(a)income from that property,
(b)property directly or indirectly representing—
(i)proceeds of that property, or
(ii)proceeds of income from that property, or
(c)income from property which is derived property by virtue of paragraph (b).]
Textual Amendments
F1Sch. 4ZA inserted (with effect in accordance with Sch. 12 para. 6(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 6(2)
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