Part 9Special rules about settlements and trustees
C1Chapter 2General provision about settlements and trustees
Annotations:
Modifications etc. (not altering text)
Settlors
469Person ceasing to be a settlor
1
A person (“S”) who is a settlor in relation to a settlement ceases to be so when the following condition is met.
2
The condition is that—
a
no property of which S is the settlor is comprised in the settlement,
b
S has not undertaken to provide property (directly or indirectly) for the purposes of the settlement in the future, and
c
S has not made reciprocal arrangements with another person for that other person to enter into the settlement in the future.
Pt. 9 Ch. 2 applied (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 1169(1), 1184(1) (with Sch. 2)