42U.K.After section 73(1) of TCGA 1992 (death of life tenant: exclusion of chargeable gain) insert—
“(1A)Subsection (1)(b) above shall be treated as having effect in relation to a sub-fund settlement if the property does not revert to the trustees of the principal settlement in relation to that sub-fund settlement by reason only that—
(a)a sub-fund election is or has been made in respect of another sub-fund of the principal settlement, and
(b)the property becomes comprised in that other sub-fund settlement on the death of the person entitled to the interest in possession.”