685Provisions supplementary to sections 683 and 684
(1)For the purposes of sections 683 and 684, the settlor shall not be deemed to have divested himself absolutely of any property if that property or any derived property is, or will or may become, in any circumstances whatsoever, payable to or applicable for the benefit of the settlor or, in the case of a settlement made after 6th April 1965, the wife or husband of the settlor.
(2)For those purposes, the settlor shall not be deemed not to have divested himself absolutely of any property by reason only that the property or any derived property may become payable to or applicable for the benefit of the settlor, or, in the case of a settlement made after 6th April 1965, the wife or husband of the settlor, in the event of—
(a)the bankruptcy of some person who is or may become beneficially entitled to the property or any of the derived property; or
(b)an assignment of or charge on the property or any of the derived property being made or given by some such person; or
(c)in the case of a marriage settlement, the death of both parties to the marriage and of all or any of the children of the marriage; or
(d)the death under the age of 25 or some lower age of some person who would be beneficially entitled to the property or the derived property on attaining that age.
(3)In subsections (1) and (2) above “derived property”, in relation to any property, means income from that property or any other property directly or indirectly representing proceeds of, or of income from, that property or any income therefrom.
(4)In sections 683 and 684 and this section “income arising under a settlement”, “settlement” and “settlor” have the meanings assigned to them for the purposes of Chapter III of this Part by section 681.
(5)Section 679 shall have effect in relation to sections 683 and 684 and this section as it has effect in relation to Chapter III of this Part.