Part V Transfer of business assets
Chapter II Gifts of business assets
169EF1Meaning of “settlor” in sections 169B to 169D and 169G
1
For the purposes of this section F2and, sections 169B to 169D F3... , a person is a settlor in relation to a settlement if—
a
he is an individual, and
b
the settled property consists of, or includes, property originating from him.
2
In subsection (1) above, the reference to property originating from a settlor is a reference to—
a
property which that settlor has provided directly or indirectly for the purposes of the settlement, and
b
property which wholly or partly represents that property or any part of it.
3
In subsection (2) above, the references to property which a settlor has provided directly or indirectly—
a
include references to property which has been provided directly or indirectly by another person in pursuance of reciprocal arrangements with that settlor, but
b
do not include references to property which that settlor has provided directly or indirectly in pursuance of reciprocal arrangements with another person.
4
In subsection (2) above, the reference to property which represents other property includes a reference to property which represents accumulated income from that other property.