1959-HKRS28-8-26_Part01 — Page 6

3 & 4 Geo. 6. 6. 29,

* 58(5).

3 & 4 Geo.

6, c. 29,

15806).

15 & 16 Geo.

4, * | Eliz.

2. = 33,

* 72(2),

Amendmen

3.

of section 6,

(a)

(b) to a person having any power or control or doing any act in a fiduciary capacity shall be construed as references to his having that power or control or doing that act in a fiduciary capacity imposed on him otherwise than by a disposition made by him and in such a capacity only;

(c) to an interest ceasing or being limited to cease on a death shall be construed as including references to its being subject to a limitation, in whatsoever form, baving the effect of providing in the alter- native for its cesser on the death or on the occur- rence of some event, or the expiration of some period, before the death;

(d) to a transfer of property, (except in the definition of "payment" in subsection (1)) shall include a refer- ence to a payment of money, and the expressions "disposition" and "value" respectively, in relation to money, shall include payment and amount.”.

Section 6 of the principal Ordinance is amended- by the deletion in paragraph (b) of subsection (1) of the words "bona fide made or effected three years before the death of the deceased, and bona fide possession" and the substitution therefor of the following-

*4 & 4

Gec. 6, 29,

* 43(2) & 9 & 10 Gro. 6, D. 64, s. 47,

bona fide made or effected three years before the death, or if it was made or effected for such purposes as are recognized by the Commissioner as public or charitable, one year before the death, and bonu fide possession";

(6) by the deletion from the first proviso to paragraph (b) of subsection (1) of the words "contract or otherwise, for a period of three years immediately preceding the death of deceased:' and the substitution therefor of the following-

* 24

Geo, 6, 29.

s. 41(2) & 9 & 10 Geo, 6, c. 64, n. 47.

contract or otherwise, for a period of three years immediately preceding the death, or in the case of such purposes as are recognized by the Com- missioner as public or charitable, one year im- mediately preceding the death:":

(c) by the deletion in paragraph (c) of subsection (1) of the words "have been bona fide made three years before his" and the substitution therefor of the following—

Geo, 6, 29

5. 430) & 9 & 10 Geo. 6,

c. 64, s. 47.

have been bona fide made three years before the death or in the case of a gift inter vivos made or affected for such purposes as may be recognized by the Commissioner as public or charitable, onc year before the";

9

(d) by the deletion from the first proviso to paragraph (c) of subsection (1) of the words "one thousand dollars" and sub- stitute the following-

"Gve thousand dollars";

(e) by the deletion from the second proviso to paragraph (c) of subsection (1) of the words "a period of three years immediately preceding the death of the deceased;" and the substitution therefor of the following-

E 47.

9 10 a period of three years immediately preceding the Geo. 6, c. 64, death or in the case of such purposes as are recognized by the Commissioner as public or charitable, one year before the death;

2 & 3 Geo. 6. c. 41.

a. 31(2).

Provided also that money or money's worth paid or applied by the deceased in or towards satisfaction or discharge of a debt or incumbrance in the case of which subsection (LA) of section 10 would have had effect on his death if the debt or incumbrance had not been satisfied or discharged, or in reduction of a debt or incumbrance in the case of which that subsection has effect on his death, shall, unless so paid or applied three years before the death, be treated as property deemed to be included in the property passing on the death and estate duty shall, notwithstanding anything in paragraph (a) of section 7, be payable in respect thereof accordingly:*:

(f) by the deletion at the end of paragraph (f) of subsection (1) of the semicolon and the word "and" and the substitution therefor of the following-

11 & 3 Geo. 6, c. 41,

(1)) & (3),

30.

except that the foregoing provisions of this paragraph shall have effect in relation to an annuity or other interest purchased or provided wholly or in part by any person who was at any time entitled to, or amongst whose resources there was at any time included, any property derived from the deceased, as if that annuity or other interest had been provided by the deceased, or, if it is proved to the satisfaction of the Com- missioner that the application of all the property derived from the deceased would have been in- sufficient to provide the whole of that annuity or other interest, as if a similar annuity or interest of