1964_ESTATE_DUTY_ORDINANCE — Page 18

1983 Ed.]

Estate Duty

(CAP. 111

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deceased of an annuity or other interest limited to cease on the death of the deceased or of any other person shall not be treated for the purposes of this section or of section 13(1) as consideration for the disposition made by the deceased, except as provided in section 8.

(3) Where there have been associated operations effected with reference to the receiving by the deceased of any payment in respect of such an annuity or other interest as in mentioned in subsection (2), or effected with a view to enabling him to receive or to facilitating the receipt by him of any such payment, this section and section 45 shall have effect in relation to each of those associated operations as they have effect in relation to the creation or disposi- tion in favour of the deceased of such an annuity or other interest.

(4) In this section, section 8 and section 45- “annuity” includes any series of payments, whether inter-connected

or not, whether of the same or of varying amounts, and whether payable at regular intervals or otherwise, and payments of dividends or interest on shares in or debentures of a company shall be treated for the purposes of the said provisions as a series of payments constituting an annuity limited to cease on a death if the payments are liable to cease on the death, or the amounts thereof are liable to be reduced on the death, by reason directly or indirectly of the extinguishment or any alteration of rights attaching to, or of the issue of, any shares in or debentures of a company:

"relative" means

(a) wife or husband;

(b) father and mother;

(c) child, uncle and aunt;

(d) any issue of a person falling within either (a), (b) or (c) above and the other party to a marriage with any such person or issue:

(e) concubine recognized as such by the law appropriate to the

marriage; and

(ƒ) references to "child" and "issue" include references to any

illegitimate child and to any adopted child.

( Added, 1 of 1959, s. 4)

1940 c. 29, s. 44(5), & 1950 c. 15, s. 46(2)(u).

1940 c. 29, s. 44(2) & (3).

Presumption of death.

simultaneous

(28 of

7A. Where, after the commencement of the Estate Duty (Amendment) Ordinance 1982, 2 or more persons die in circum stances rendering it uncertain that any one of them survived the 1982) other or others, the property chargeable with estate duty in respect of each death shall be ascertained as if they had died at the same time and all relevant property had devolved accordingly.

(Replaced, 28 of 1982, s. 3)

8. (1) Subject to the provisions of this section, the relief specified herein shall be granted where, on the death of a person who

Exemptions.

1944 c. 23. s. 40.