SCHEDULES

SCHEDULE 14Settled Property

Periodic charge to tax

17

For paragraph 12(7) of Schedule 5 there shall be substituted—

7

Paragraph 11 above shall apply for the interpretation of this paragraph as it applies for the interpretation of paragraphs 6 to 10, except that paragraph 11(4) shall be disregarded in determining in relation to any settled property whether the trustees are resident in the United Kingdom.