PART III SETTLED PROPERTY
CHAPTER IIF1 INTERESTS IN POSSESSION, REVERSIONARY INTERESTS AND SETTLEMENT POWERS
Annotations:
Amendments (Textual)
55 Reversionary interest acquired by beneficiary.
1
Notwithstanding section 5(1) above, where a person entitled to an interest (whether in possession or not) in any settled property acquires a reversionary interest expenctant (whether immediately or not) on that interest, the reversionary interest is not part of his estate for the purposes of this Act.
2
Section 10(1) above shall not apply to a disposition by which a reversionary interest is acquired in the circumstances mentioned in subsection (1) above . . . F2
Words in the title of Chapter II substituted (24.7.2002 with effect in relation to transfers of value on or after 17.4.2002) by virtue of 2002 c. 23, s. 119(5)(6)