CAP. 111]
Estate Duty
[1983 Ed.
1881 c. 12. s. 38(2): 1889 c. 7, s. 1 &
1894 c. 30. s. 2(1).
1881 c. 12. s. 38(2): 1889 c. 7, s. 11 &
1894 c. 30, s. 2(1).
1894 c. 30, s. 2(1).
1939 c. 41, s. 30(1) & (3).
missioner as public or charitable, one year before the death: (Amended, 29 of 1981, s. 3)
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 section 13(2) 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 3 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 section 10(a), be payable in respect thereof accordingly; (Amended, 1 of 1959, s. 3)
(d) property to which the deceased has been absolutely entitled, and which he has caused to be transferred to or vested in himself and any other person jointly, whether by disposition or otherwise (including also any purchase or investment effected by the deceased either by himself alone, or in concert, or by arrangement with any other person), so that the beneficial interest therein or in some part thereof passes or accrues by survivorship on his death to such other person;
(e) property passing under any past or future settlement made by the deceased by deed or any other instrument not taking effect as a will, whereby an interest in such property or the proceeds of sale thereof, for life or any other period determinable by reference to death is reserved, either expressly 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;
(f) any annuity or other interest purchased or provided by the deceased either by himself alone or in concert or by arrangement with any other person, to the extent of the beneficial interest accruing or arising by survivorship or otherwise on the death of the deceased, 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 Commissioner that the application of all the property derived from the deceased would have been insufficient to provide the whole of that annuity or other interest, as if a similar annuity or interest of an amount reduced to an extent proportionate to the insufficiency proved had been provided by the deceased:
12
CAP. 111]
Estate Duty
[1983 Ed.
1881 c. 12. s. 38(2): 1889 c. 7, s. 1 &
1894 c. 30. s. 2(1).
1881 c. 12. s. 38(2): 1889 c. 7, s. 11 &
1894 c. 30, s. 201).
1894 c. 30, s. 2(1).
1939 c. 41, s. 30(1) & (3).
missioner as public or charitable, one year before the death: (Amended, 29 of 1981, s. 3)
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 section 13(2) 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 3 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 section 10(a), be payable in respect thereof accordingly; (Amended, I of 1959, s. 3)
(d) property to which the deceased has been absolutely entit- led, and which he has caused to be transferred to or vested in himself and any other person jointly, whether by disposi- tion or otherwise (including also any purchase or invest- ment effected by the deceased either by himself alone, or in concert, or by arrangement with any other person), so that the beneficial interest therein or in some part thereof passes or accrues by survivorship on his death to such other person;
(e) property passing under any past or future settlement made by the deceased by deed or any other instrument not taking effect as a will, whereby an interest in such property or the proceeds of sale thereof, for life or any other period deter- minable by reference to death is reserved, either expressly 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; (f) any annuity or other interest purchased or provided by the deceased either by himself alone or in concert or by arrangement with any other person, to the extent of the beneficial interest accruing or arising by survivorship or otherwise on the death of the deceased, 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 Commissioner that the application of all the property derived from the deceased would have been insufficient to provide the whole of that annuity or other interest, as if a similar annuity or interest of an amount reduced to an extent proportionate to the insufficiency proved had been provided by the deceased:
No comments yet.
Private notes are available after approval.