Estate Duty.
[CAP. 111
a
"estate" includes all property passing or deemed to pass on
the death of any person which is liable to estate duty; "estate duty" means estate duty under this Ordinance; "executor" means the executor or administrator of
deceased person and includes, as regards any obligation under this Ordinance, any person who takes possession of or intermeddles with the property of a deceased person or any portion thereof;
"incumbrances" includes mortgages and terminable charges; "interest in expectancy" includes an estate in remainder or reversion and every future interest whether vested or contingent, but does not include a reversion expectant upon the determination of leases;
"property" includes movable and immovable property and the proceeds of sale thereof respectively and any money or investment for the time being representing the proceeds of sale:
"property passing on the death" includes property passing either immediately on the death or after any interval, and either certainly or contingently, and either originally or by way of substitutive limitation, and "on the death" includes "at a period ascertainable only by reference to the death";
"settlement" means any non-testamentary disposition in writing, whether made voluntarily or upon a good or valuable consideration other than a bona fide pecuniary consideration, whereby any definite and certain property is settled or agreed to be settled in any manner for any purpose whatsoever.
(2) For the purposes of this Ordinance-
(i) a person shall be deemed competent to dispose of property if he has such an estate or interest therein or such general power as would, if he were sui juris, enable him to dispose of the property; and "general power" includes every power or authority enabling the donee or other holder thereof to appoint or dispose of property as he thinks fit, whether exerciseable by instrument inter vivos or by will, or both, but exclusive of any power exerciseable either in a fiduciary capacity under a disposition not made by himself or as mortgagee;
57 & 58 Vict.
c. 30, s. 22 (2).
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