|
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
258
Schedule 20, page 124, line 29 [Vol II], leave out '22nd March 2006' and insert '6th April 2007'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
269
Schedule 20, page 124 [Vol II], leave out lines 31 to 33 and insert—
| '23 | | Section 80(3) of IHTA 1984 shall be replaced with the following provision— |
"(3) This section shall not apply if the occasion first referred to in subsection (1) above occurred before 27th March 1974 or (unless that occasion was the coming into existence of an immediate post-death interest) on, or after, 22nd March 2006.".'.
Dawn Primarolo
373
Schedule 20, page 124, line 31 [Vol II], leave out from 'section' to end of line 33 and insert '80 of IHTA 1984 (postponement of commencement date of settlement where settlor, or spouse or civil partner or surviving spouse or surviving civil partner, has interest in possession at outset), after subsection (3) insert—
"(4) Where the occasion first referred to in subsection (1) above occurs on or after 22nd March 2006, this section applies only if the interest in possession first referred to in that subsection is an immediate post-death interest.".'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
259
Schedule 20, page 124, line 33 [Vol II], leave out '22nd March 2006' and insert '6th April 2007'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
330
Schedule 20, page 125, line 11 [Vol II], after 'interest', insert ', or
| (iii) | a relationship breakdown settlement interest.'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
331
Schedule 20, page 125, line 17 [Vol II], after second 'interest', insert 'or relationship breakdown settlement interest'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
332
Schedule 20, page 125, line 20 [Vol II], after 'interest', insert 'or relationship breakdown settlement interest'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
333
Schedule 20, page 125, line 27 [Vol II], leave out 'neither' and insert 'not'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
334
Schedule 20, page 125, line 27 [Vol II], leave out 'nor' and insert 'or'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
335
Schedule 20, page 125, line 28 [Vol II], after 'interest', insert 'or a relationship breakdown settlement interest.'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
260
Schedule 20, page 125, line 35 [Vol II], leave out '22nd March 2006' and insert '6th April 2007'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
315
Schedule 20, page 125, line 40 [Vol II], at end insert '; or
| (d) | an immediate self-settled interest.'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
336
Schedule 20, page 125, line 40 [Vol II], at end insert ', or
| (d) | a relationship breakdown settlement interest." '. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
261
Schedule 20, page 125, line 45 [Vol II], leave out '22nd March 2006' and insert '6th April 2007'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
316
Schedule 20, page 126, line 4 [Vol II], at end insert '; or
| (c) | an immediate self-settled interest.'. |
Dawn Primarolo
398
*Schedule 20, page 126, line 19 [Vol II], leave out 'In'.
Dawn Primarolo
399
*Schedule 20, page 126, line 19 [Vol II], at end insert 'is amended as follows.
(a) for "This section applies" substitute "Subsection (2) below applies", and
(b) in paragraph (a), for "(apart from this section)" substitute "(apart from subsection (2) below)".'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
340
Schedule 20, page 126 [Vol II], leave out lines 21 to 25 and insert—
'(1A) Where the testator dies on or after 22nd March 2006, subsection (1) above shall have effect as if—
| (a) | the reference to any interest in possession were a reference to any interest in possession that is— |
| (i) | an immediate post-death interest, or |
| (ii) | a disabled person's interest; |
| (b) | an event which results in settled property to which subsection (1) above (as modified by the preceding subsection) being held on trusts which either: |
| (i) | would constitute a trust for bereaved minors but for the requirement that such a trust must be established under the will of a deceased parent of a bereaved minor; or |
| (ii) | would confer on any person an immediate post-death interest but for the condition in section 49A(3) that the person in question became beneficially entitled to the interest in possession on the death of the testator and the condition in section 49A(7) in so far as it relates to the condition in section 49A(3) |
were (for the purposes of this section only) an event on which tax would be chargeable under a provision of Chapter 3 Part 3 of this Act.'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
262
Schedule 20, page 126, line 21 [Vol II], leave out '22nd March 2006' and insert '6th April 2007'.
Dawn Primarolo
400
*Schedule 20, page 126, line 25 [Vol II], at end insert—
| '(4) | In subsection (2), for "this section" (in both places) substitute "this subsection". |
| (5) | After subsection (2) insert— |
"(3) Subsection (4) below applies where—
| (a) | a person dies on or after 22nd March 2006, |
| (b) | property comprised in the person's estate immediately before his death is settled by his will, and |
| (c) | within the period of two years after his death, but before an immediate post-death interest or a disabled person's interest has subsisted in the property, there occurs an event that involves causing property comprised in the testator's estate to be held on trusts that would, if they had in fact been established by the testator's will, have resulted in— |
| (i) | an immediate post-death interest subsisting in the property, or |
| (ii) | section 71A or 71D above applying to the property. |
(4) Where this subsection applies by virtue of an event—
| (a) | this Act shall have effect as if the will had provided that on the testator's death the property should be held as it is held after the event, but |
| (b) | tax shall not be charged on that event under any provision of Chapter 3 of Part 3 of this Act.".'. |
Dawn Primarolo
392
*Schedule 20, page 126, line 30 [Vol II], leave out '89(2A)' and insert '89B'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
317
Schedule 20, page 126, line 33 [Vol II], at end insert—
' "immediate self-settled interest" means an immediate self-settled interest for the purposes of Chapter 2 of Part 3 (see section 49D above)'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
337
Schedule 20, page 126, line 33 [Vol II], at end insert—
' "relationship breakdown settlement interest" means a relationship breakdown settlement interest for the purposes of Chapter 2 of Part 3 (see section 49D above);" '.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
263
Schedule 20, page 126, line 42 [Vol II], leave out '22nd March 2006' and insert '6th April 2007'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
264
Schedule 20, page 127, line 3 [Vol II], leave out '22nd March 2006' and insert '6th April 2007'.
Julia Goldsworthy
Mr Colin Breed
John Thurso
John Hemming
207
Schedule 20, page 127, line 13 [Vol II], at end insert—
| '(iii) | a disabled person's interest, within the meaning given by subsection (2A) of section 89 of that Act; or'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
318
Schedule 20, page 127, line 13 [Vol II], at end insert—
| '(iii) | an immediate self-settled interest within the meaning given by section 49D of that Act, or'. |
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