CAP. 111]
[s. 6 cont.]
Exception
to passing of property on
enlarge-ment of interest of settlor.
59 & 60 Vict. c. 28, s. 14.
Reverter of property to
disponer.
59 & 60 Vict.
c. 28, s. 15.
Estate Duty.
limited to cease on the death of the deceased, and of any benefit to him by contract or otherwise, the property shall not be deemed to pass on the death of the deceased if subsequently, by means of the surrender of the benefit reserved or otherwise, it is enjoyed to the entire exclusion of the deceased or such other person as aforesaid and of any benefit to him by contract or otherwise, for a period of three years immediately preceding the death of the deceased.
(3) Where property is settled by a person on himself for life, and after his death on any other person with an ultimate reversion of an absolute interest or absolute power of disposition to the settlor, the property shall not be deemed for the purpose of this Ordinance to pass to the settlor on the death of any such other person after the commencement of this Ordinance, by reason only that the settlor, being then in possession of the property as tenant for life, becomes, in consequence of such death, entitled to dispose of the whole property.
(4) (a) Where by a disposition of any property an interest is conferred on any person other than the disponer for the life of such person or determinable on his death, and such person enters into possession of the interest and thenceforward retains possession thereof to the entire exclusion of the disponer or of any benefit to him by contract or otherwise, and the only benefit which the disponer retains in the said property is subject to such life or determinable interest, and no other interest is created by the said disposition, then, on the death of such person the property shall not be deemed for the purposes of this Ordinance to pass by reason only of its reverter to the disponer in his lifetime.
(b) Where by a disposition of any property any such interest as above in this subsection mentioned is conferred on two or more persons, either severally or jointly, or in succession, this subsection shall apply in like manner as where the interest is conferred on one person.
(c) Provided that paragraphs (a) and (b) shall not apply where such person or persons taking the said life or determinable interest had at any time prior to the
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