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2.—(1) Section 329AA of the Income and Corporation Taxes Act 1988 (personal injury damages in the form of periodical payments) applies to periodical payments by the Thalidomide Children’s Trust as it applies to payments to which subsection (1) of that section applies, but subject to the following modifications.
(2) In subsection (1)—
(a)after “Where” insert “the Thalidomide Children’s Trust makes periodical payments to a beneficiary of that Trust”; and
(b)omit paragraphs (a) and (b).
(3) In subsection (2)—
(a)for paragraph (a) substitute—
“(a)the person (“A”) entitled to the payments made by the Thalidomide Children’s Trust;”;
(b)in paragraphs (b) and (c) for “whether in pursuance of the agreement or order or otherwise” substitute “whether under the terms of the Thalidomide Children’s Trust or otherwise”.
(4) In subsection (3) omit “, if the agreement or order mentioned in that subsection or a subsequent agreement so provides,”.
(5) For subsection (5) substitute—
“(5) In this section “the Thalidomide Children’s Trust” means the Trust established by that name by a declaration of trust made on the 10th August 1973 by Sir Henry Gordon Willmer, Arthur Halsall Walton and Sir Donald Macleod Douglas.”.
(6) Omit subsections (6) to (8).
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