Meaning of “settlor” etc.
6(1)For the purposes of this Schedule a person is a settlor in relation to a settlement if the settled property consists of or includes property originating from him.
(2)In this Schedule—
(a)references to settled property (and to property comprised in a settlement), in relation to any settlor, are references only to property originating from that settlor, and
(b)references to income arising under a settlement, in relation to any settlor, are references only to income originating from that settlor.
(3)References in this paragraph to property originating from a settlor are references to—
(a)property which that settlor has provided directly or indirectly for the purposes of the settlement,
(b)property representing that property, and
(c)so much of any property which represents both property so provided and other property as, on a just apportionment, represents the property so provided.
(4)References in this paragraph to income originating from a settlor are references to—
(a)income from property originating from that settlor, and
(b)income provided directly or indirectly by that settlor.
(5)In sub-paragraphs (3) and (4) above—
(a)references to property or income which a settlor has provided directly or indirectly include references to property or income which has been provided directly or indirectly by another person in pursuance of reciprocal arrangements with that settlor, but do not include references to property or income which that settlor has provided directly or indirectly in pursuance of reciprocal arrangements with another person, and
(b)references to property which represents other property include references to property which represents accumulated income from that other property.