(1). . . F1
(2)The power of the Commissioners of Inland Revenue to accept property in satisfaction of estate duty under the provisions mentioned in subsection (3) of section 8 above shall not be exercisable except with the agreement of [F2the Secretary of State]; and [F2the Secretary of State] shall exercise the functions conferred on the Treasury by the provisions mentioned in paragraphs (b) and (c) of that subsection. . . F3.
(3)Any question whether an object or collection or group of objects is pre-eminent shall be determined under the provisions mentioned in section 8(3)(b) or (c) above in the same way as under [F4section 230(4) of the Capital Transfer Tax Act 1984].
Textual Amendments
F1S. 12(1) repealed by Capital Transfer Tax Act 1984 (c. 51, SIF 65), s. 277, Sch. 9
F2Words in s. 12(2) substituted (3. 7. 1992) by S.I. 1992/1311, art. 12(2), Sch. 2 para. 5(2)(a).
F3Words repealed by Capital Transfer Tax Act 1984 (c. 51, SIF 65), s. 277, Sch. 9
F4Words substituted by Capital Transfer Tax Act 1984 (c. 51, SIF 65), s. 276, Sch. 8 para. 14