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32. In section 162 (interpretation: exempt trust donations)—
(a)in subsection (1)—
(i)after “Act” insert “(a)”; and
(ii)at the end insert—
“(b)“exempt Gibraltar trust donation” means a donation to which subsection (3A) applies, other than one falling within subsection (5).”;
(b)after subsection (3) insert—
“(3A) This subsection applies to any donation received from a trustee of any property in accordance with the terms of a trust—
(a)which was created by—
(i)a person falling within section 54(2A)(a) to (g) at the time when the trust was created, or
(ii)the will of a person falling within section 54(3A), and
(b)to which no property has been transferred other than—
(i)by a person falling within section 54(2A)(a) to (g) at the time of the transfer, or
(ii)under the will of a person falling within section 54(3A),
provided that, at or before the time of the receipt of the donation, the trustee gives the recipient of the donation the relevant information.”;
(c)in subsection (4) for “subsection (3)” substitute “subsections (3) and (3A)”; and
(d)in subsection (6)(a) after “exempt trust donation” insert “or exempt Gibraltar trust donation”.
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