CO129-530-8 Estate Duty Ordinance- 1931- Bill 27-2-1931 - 15-12-1931 — Page 35

the death of the deceased by reason only that the property was not, as from the date of the disposition, retained to the entire exclusion of the deceased or a person who had an estate or interest 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;

(d) property to which the deceased has been 44 & 45 Vict.

absolutely entitled, and which he has caused c. 12,

to be transferred to or vested in himself s. 38 (2);

52 & 53 Vict.

and any other person jointly, whether by c. 7, s. 11; disposition or otherwise (including also any 57 & 58 Vict. purchase or investment effected by the

c. 30, deceased either by himself alone, or in s. 2 (1). concert, or by arrangement with any other person), so that the beneficial interest there- in or in some part thereof passes or accrues by survivorship on his death to such other person;

52 & 53 Vict.

(e) property passing under any past or future 44 & 45 Vict

settlement made by the deceased by deed c. 12, or any other instrument not taking effect s. 38 (2); as a will, whereby an interest in such pro- c. 7, s. 11; perty or the proceeds of sale thereof, for 57 & 58 Vict. life or any other period determinable by c. 30, reference to death is reserved, either ex- s. 2 (1). pressly or by implication, to the settlor, or whereby the settlor may have reserved to himself the right by the exercise of any power to restore to himself, or to reclaim the absolute interest in such property or the proceeds of sale thereof;

any annuity or other interest purchased or 57 & 58 Vict, provided by the deceased either by him- c. 30, self alone or in concert or by arrange. s. 2 (1). ment with any other person, to the extent

of the beneficial interest accruing or arising

by survivorship or otherwise on the death of

the deceased; and

(g) debts and sums of money due and owing 25 & 26 Vict,

from persons in the Colony to any deceased c. 22, s. 39. person at the time of his death on obligation

or other specialty, to the same extent as if they were owing to the deceased upon simple contract, without regard to the place where the obligation or specialty shall be at the time of the death of the deceased.

57 & 58 Vict.

(2) Property passing on the death of the deceased Trust pro- shall not be deemed to include property held by the perty, deceased as trustee for another person, under a dis- c. 30. position not made by the deceased or under a s. 2 (3); disposition made by the deceased more than three 10 Edw. 7, years before his death where possession and enjoy. c. 8, s. 59. ment of the property was bona fide assumed by the beneficiary immediately upon the creation of the trust and thenceforward retained to the entire exclusion of the deceased or of any benefit to him by contract or otherwise: Provided that where property taken under such a disposition as aforesaid is deemed to be pro- perty passing on the death of the deceased by reason only that the property was not, as from the date of the disposition, retained to the entire exclusion of the deceased or a person who had an estate or interest 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

35