16
1896 c. 28, s. 15.
31/90,10
Hong
Kong
Dispositions in favour of relatives.
1950 c. 15, s. 46(1),
CAP. 111]
Estate Duty
[1983 Ed.
(6) (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 2 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 disposition been himself or themselves competent to dispose of the said property.
(7) Notwithstanding paragraphs (b), (c) and (k) of subsection (1) and notwithstanding subsection (4), property passing on the death of the deceased shall not be deemed to include property the subject of any surrender, assurance, divesting, disposition, forfeiture, disposal, donatio mortis causa, gift inter vivos or determination of an interest made, effected or suffered to or for the benefit in the Colony of any charitable institution or trust of a public character, or to the Government, or the Urban Council, for charitable purposes. (Added 29 of 1970 s. 2. Amended, 74 of 1981, s. 2)
7. (1) For the purposes of section 6(1)(c), any disposition made by the deceased in favour of a relative of his shall be treated as a gift unless-
(a) the disposition was made on the part of the deceased for full consideration in money or money's worth paid to him for his own use or benefit; or
(b) the deceased was concerned in a fiduciary capacity imposed on him otherwise than by a disposition made by him and in such a capacity only:
Provided that where the disposition was made on the part of the deceased for partial consideration in money or money's worth paid to him for his own use or benefit, the value of the consideration shall be allowed as a deduction from the value of the property for the purpose of estate duty.
(2) Where the deceased made a disposition of property in favour of a relative of his, the creation or disposition in favour of the
16
1896 c. 28, s. 15.
31/90,10
Hong
Kong
Dispositions in favour of relatives.
1950 c. 15, s. 46(1),
CAP. 111]
Estate Duty
[1983 Ed.
(6) (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 thencefor- ward retains possession thereof to the entire exclusion of the disponer or of any benefit to him by contract or other- wise, 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 2 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 disposition been himself or themselves competent to dispose of the said property.
(7) Notwithstanding paragraphs (b), (c) and (k) of subsec- tion (1) and notwithstanding subsection (4), property passing on the death of the deceased shall not be deemed to include property the subject of any surrender, assurance, divesting, disposition, forfei- ture, disposal, donatio mortis causa, gift inter vivos or determination of an interest made, effected or suffered to or for the benefit in the Colony of any charitable institution or trust of a public character, or to the Government, or the Urban Council, for charitable purposes. ( Added. 29 of 1970!§. 2. Amended, 74 of 1981, s. 2}
7. (1) For the purposes of section 6(1)(c), any disposition made by the deceased in favour of a relative of his shall be treated as a gift unless-
(a) the disposition was made on the part of the deceased for full consideration in money or money's worth paid to him for his own use or benefit; or
(b) the deceased was concerned in a fiduciary capacity imposed on him otherwise than by a disposition made by him and in such a capacity only:
Provided that where the disposition was made on the part of the deceased for partial consideration in money or money's worth paid to him for his own use or benefit, the value of the consideration shall be allowed as a deduction from the value of the property for the purpose of estate duty.
(2) Where the deceased made a disposition of property in favour of a relative of his, the creation or disposition in favour of the
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