Finance Act 1986

Interpretation and application

1 (1) In this Schedule—

• "the material date", in relation to any property means, in the case of property falling within subsection (3) of the principal section, the date of the donor's death and, in the case of property falling within subsection (4) of that section, the date on which the property ceases to be property subject to a reservation;

• "the principal section" means section 102 of this Act; and

• "property subject to a reservation" has the same meaning as in the principal section.

(2) Any reference in this Schedule to a disposal by way of gift is a reference to such a disposal which is made on or after 18th March 1986.

(3) This Schedule has effect for the purposes of the principal section and the 1984 Act.