1964_ESTATE_DUTY_ORDINANCE — Page 14

1983 Ed.]

Estate Duty

[CAP. 111

13

Provided that for the purpose of determining whether there would have been any such insufficiency as aforesaid, and the extent thereof, there shall be excluded from the property derived from the deceased any part thereof as to which it is proved to the satisfaction of the Commissioner that the disposition of which it, or the property which it represented, was the subject matter was not made with reference to, or with a view to enabling or facilitating, the purchase or provision of the annuity or other interest, or the recoupment in any manner of the cost thereof.

In this paragraph-

"property derived from the deceased" shall include any property which was the subject matter of a disposi- tion, made by the deceased, either by himself alone or in concert or by arrangement with any other person, notwithstanding that the disposition was made for full consideration in money or money's worth paid to the deceased for his own use or benefit, or which repre- sented any of the subject matter of such disposition, whether directly or indirectly, and whether by virtue of one or more intermediate dispositions, and whether any such intermediate disposition was or was not for full or partial consideration:

Provided that where the first-mentioned disposi- tion was for full consideration in money or money's worth paid to the deceased for his own use or benefit and it is proved to the satisfaction of the Commis- sioner that the disposition was not part of associated operations which included a disposition by the de- ceased, either by himself alone or in concert or by arrangement with any other person, otherwise than for full consideration in money or money's worth paid to the deceased for his own use or benefit; or a disposition by any other person operating to reduce the value of the property of the deceased, then, in considering whether estate duty should be charged by virtue of this paragraph, paragraph (c) and section 13(2), the said first-mentioned disposition shall be left out of the account as if this sub-paragragh did not apply in relation to it; and (Amended, L.N. 100/68)

"subject matter" includes, in relation to any disposition, any annual or periodical payment made or payable under or by virtue of the disposition; (Amended, 1 of 1959, s. 3)

1943 c. 28. s. 26.

1943 c. 28. s. 26.

1862 c. 22, s. 39.

(g) debts and sums of money due and owing from persons

in the Colony to any deceased person at the time of his 31/9010 death on obligation or other specialty, to the same extent as if they were owing to the deceased upon simple con- tract, without regard to the place where the obligation or