(1)In section 54 of the Capital Gains Tax Act 1979 (deemed disposal for market value when a person becomes absolutely entitled to settled property) after subsection (2) there shall be added—
“(3)References in this section to the case where a person becomes absolutely entitled to settled property as against the trustee shall be taken to include references to the case where a person would become so entitled but for being an infant or other person under disability.”
(2)In section 56(1) of that Act (death of life tenant) after the word “becomes” there shall be inserted the words “(or would but for a disability become)”.
(3)This section applies where the occasion concerned occurs on or after 10th March 1981.
Modifications etc. (not altering text)
C1The text beginning “(3) References in this section” to the end of s. 87(1) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.