Capital Transfer Tax Act 1984

Giving of directions

1 (1) If the conditions mentioned in paragraph 2(1) below are fulfilled in respect of settled property, the Treasury shall, on a claim made for the purpose, give a direction under this paragraph in respect of the property.

(2) The Treasury may give a direction under this paragraph in respect of property proposed to be comprised in a settlement or to be held on particular trusts in any case where, if the property were already so comprised or held, they would be obliged to give the direction.

(3) Property comprised in a settlement by virtue of a transfer of value made before the coming into force of section 94 of the [1982 c. 39.] Finance Act 1982 and exempt under section 84 of the [1976 c. 40.] Finance Act 1976 shall be treated as property in respect of which a direction has been given under this paragraph.