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Finance Act 2003
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- 2003 c. 14
- SCHEDULE 16
- Meaning of “settlement” and “bare trust”
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Changes and effects yet to be applied to Schedule 16 Crossheading Meaning-of-settlement-and-bare-trust:
Changes and effects
This section lists the changes and effects yet to be applied to the specific provision you are viewing.
- s. 71A-73 text amended by 2006 c. 25 s. 168(1)
- s. 77 77A substituted for s. 77 by 2008 c. 9 s. 94(2)
Changes and effects yet to be applied to the whole Act, associated Parts and Chapters:
Changes and effects
This section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.
- Act applied (with modifications) by S.I. 2011/245 Sch. 6 Pt. 1
- Act modified by S.I. 2009/317 art. 3 Sch.
- Blanket amendment text amended by S.I. 2011/1043 art. 3 4
- Blanket amendment text amended by S.I. 2011/1043 art. 3 6
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 33A-33F inserted by S.I. 2009/56 Sch. 1 para. 364
- s. 44A inserted by 2004 c. 12 Sch. 39 para. 4(1)
- s. 45A inserted by 2004 c. 12 Sch. 39 para. 5(5)
- s. 45A(10) words substituted by 2010 c. 4 Sch. 1 para. 403
- s. 57A inserted by 2004 c. 12 Sch. 39 para. 16
- s. 57A inserted by S.I. 2003/2760 Sch. para. 2
- s. 57A inserted by S.I. 2003/2816 Sch. para. 2
- s. 57A(3)(d)(e) inserted by 2004 c. 12 Sch. 39 para. 6(3)
- s. 57A(3)(aa)(b) substituted for s. 57A(3)(b) by 2004 c. 12 Sch. 39 para. 6(2)
- s. 57A(4) omitted by 2004 c. 12 Sch. 39 para. 6(4)
- s. 57AA inserted by 2010 c. 13 s. 6(2)
- s. 58A substituted for s. 58 59 by 2004 c. 12 Sch. 39 para. 17(1)
- s. 58A substituted for s. 58 59 by S.I. 2003/2760 Sch. para. 3(1)
- s. 58A substituted for s. 58 59 by S.I. 2003/2816 Sch. para. 3(1)
- s. 58B 58C inserted by 2007 c. 11 s. 19(1)
- s. 58B(2) substituted by 2008 c. 9 s. 93(2)
- s. 58C(1) text amended by 2008 c. 9 s. 93(4)
- s. 58C(2)(d) inserted by 2008 c. 9 s. 93(5)
- s. 58C(3) text amended by 2008 c. 9 s. 93(6)
- s. 58D inserted by 2011 c. 11 Sch. 22 para. 2
- s. 64A inserted by 2004 c. 12 Sch. 39 para. 18
- s. 64A inserted by S.I. 2003/2760 Sch. para. 4
- s. 64A inserted by S.I. 2003/2816 Sch. para. 4
- s. 64A repealed by 2006 c. 25 s. 166(2) Sch. 26 Pt. 7(3)
- s. 71A inserted by 2005 c. 7 Sch. 8 para. 2
- s. 71A(6) ceased to have effect by 2006 c. 25 s. 168(2)
- s. 71A(8) omitted by 2011 c. 11 Sch. 21 para. 3(1)
- s. 71A(8) substituted by 2007 c. 11 s. 75(3)
- s. 71A(8) text amended by 2010 c. 8 Sch. 8 para. 206
- s. 72A inserted by 2005 c. 7 Sch. 8 para. 4
- s. 72A(6) ceased to have effect by 2006 c. 25 s. 168(2)
- s. 72A(8) omitted by 2011 c. 11 Sch. 21 para. 3(1)
- s. 72A(8) substituted by 2007 c. 11 s. 75(3)
- s. 72A(8) text amended by 2010 c. 8 Sch. 8 para. 208
- s. 73A inserted by 2006 c. 25 s. 168(4)
- s. 73A heading substituted by 2008 c. 9 s. 155(2)
- s. 73B inserted by 2007 c. 11 s. 75(1)
- s. 73C inserted by 2009 c. 10 Sch. 61 para. 25
- s. 73C text amended by 2010 c. 8 Sch. 8 para. 210
- s. 73AB inserted by 2008 c. 9 s. 155(3)
- s. 73AB(4) words substituted by 2010 c. 4 Sch. 1 para. 406
- s. 73BA inserted by 2011 c. 11 Sch. 21 para. 3(2)
- s. 73CA inserted by 2010 c. 13 s. 6(3)
- s. 75A-75C inserted by 2007 c. 11 s. 71(1)
- s. 75A(5)(b) words substituted by 2010 c. 4 Sch. 1 para. 407
- s. 75C(8)(b) omitted by 2010 c. 13 s. 55(1)(a)
- s. 75C(8A) inserted by 2010 c. 13 s. 55(1)(b)
- s. 77A(1) amendment to earlier affecting provision SI 2008/2338 by 2009 c. 10 s. 10(2)
- s. 77A(1) text amended by S.I. 2008/2338 reg. 2 (This SI is amended by 2009 c. 10 s. 10)
- s. 78A inserted by 2005 c. 22 s. 48(1)
- s. 78A(1)(b) text amended by 2007 c. 28 Sch. 16 para. 9(2) Sch. 18 Pt. 17
- s. 78A(4) inserted by 2007 c. 28 Sch. 16 para. 9(3)
- s. 81A inserted by 2004 c. 12 Sch. 39 para. 19(1)
- s. 81A inserted by S.I. 2003/2760 Sch. para. 5(1)
- s. 81A inserted by S.I. 2003/2816 Sch. para. 5(1)
- s. 81A(d) substituted by 2007 c. 11 s. 80(5)
- s. 81B inserted by 2004 c. 12 Sch. 39 para. 20
- s. 81B inserted by S.I. 2003/2760 Sch. para. 6
- s. 81B inserted by S.I. 2003/2816 Sch. para. 6
- s. 81B(1) text amended by 2008 c. 9 Sch. 30 para. 3
- s. 82A inserted by 2004 c. 12 s. 299(2)
- Sch. 6A inserted by 2004 c. 12 Sch. 39 para. 17(2)
- Sch. 6A inserted by S.I. 2003/2760 Sch. para. 3(2)
- Sch. 6A inserted by S.I. 2003/2816 Sch. para. 3(2)
- Sch. 6A para. 10 words substituted by 2010 c. 4 Sch. 1 para. 415
- Sch. 6B inserted by 2011 c. 11 Sch. 22 para. 3
- Sch. 11A inserted by 2004 c. 12 Sch. 40
- Sch. 11A para. 3(4A)-(4C) inserted by 2009 c. 10 Sch. 50 para. 13(3)
- Sch. 11A para. 3A inserted by 2009 c. 10 Sch. 50 para. 14
- Sch. 11A para. 3(3)(4) omitted by 2009 c. 10 Sch. 50 para. 13(2)
- Sch. 11A para. 8-10 omitted by S.I. 2009/3054 Sch. para. 11(5)
- Sch. 11A para. 14(4) omitted by S.I. 2009/56 Sch. 1 para. 399(2)
- Sch. 11A para. 15 omitted by S.I. 2009/56 Sch. 1 para. 400
- Sch. 11A para. 9(6) substituted by S.I. 2009/56 Sch. 1 para. 397(5)
- Sch. 11A para. 12(2) substituted by S.I. 2009/56 Sch. 1 para. 398(3)
- Sch. 11A para. 14(5) text amended by 2010 c. 33 Sch. 12 para. 5
- Sch. 11A para. 3(4) text amended by S.I. 2009/56 Sch. 1 para. 396
- Sch. 11A para. 9(3) text amended by S.I. 2009/56 Sch. 1 para. 397(2)
- Sch. 11A para. 9(4) text amended by S.I. 2009/56 Sch. 1 para. 397(3)
- Sch. 11A para. 9(5) text amended by S.I. 2009/56 Sch. 1 para. 397(4)
- Sch. 11A para. 12(1) text amended by S.I. 2009/56 Sch. 1 para. 398(2)
- Sch. 11A para. 12(3) text amended by S.I. 2009/56 Sch. 1 para. 398(4)
- Sch. 11A para. 14(5) text amended by S.I. 2009/56 Sch. 1 para. 399(3)
- Sch. 11A para. 14(6)(7) text amended by S.I. 2009/56 Sch. 1 para. 399(4)
- Sch. 17A para. 3(1)(2) applied (with modifications) by S.I. 2006/1958 reg. 7
- Sch. 17A para. 4(1)(2) applied (with modifications) by S.I. 2006/1958 reg. 7
- Sch. 17A para. 4(5) applied (with modifications) by S.I. 2006/1958 reg. 7
- Sch. 17A para. 8(1)(2) applied (with modifications) by S.I. 2006/1958 reg. 8
- Sch. 17A inserted by 2004 c. 12 Sch. 39 para. 22(2)
- Sch. 17A para. 7A inserted by 2004 c. 12 Sch. 39 para. 11(2)
- Sch. 17A para. 9(1)(c) and word inserted by 2004 c. 12 Sch. 39 para. 11(3)
- Sch. 17A para. 12A 12B inserted by 2004 c. 12 Sch. 39 para. 11(4)
- Sch. 17A para. 15A(1A) inserted by 2005 c. 22 Sch. 10 para. 13(a)
- Sch. 17A para. 18A inserted by 2005 c. 22 Sch. 10 para. 14
- Sch. 17A para. 7(4A) inserted by 2006 c. 25 Sch. 25 para. 2(1)
- Sch. 17A para. 9A inserted by 2006 c. 25 Sch. 25 para. 3(1)
- Sch. 17A para. 14(7) inserted by 2006 c. 25 Sch. 25 para. 7(3)
- Sch. 17A inserted by S.I. 2003/2760 Sch. para. 8(2)
- Sch. 17A inserted by S.I. 2003/2816 Sch. para. 8(2)
- Sch. 17A para. 10(1)(f)-(h) inserted by S.I. 2006/875 reg. 4
- Sch. 17A para. 11 modified by S.I. 2010/814 reg. 2
- Sch. 17A para. 11(1) substituted by 2005 c. 22 Sch. 10 para. 12
- Sch. 17A para. 15A heading substituted by 2005 c. 22 Sch. 10 para. 13(b)
- Sch. 17A para. 3(3)(d) substituted by 2007 c. 11 s. 80(8)
- Sch. 17A para. 8(3)(d) substituted by 2007 c. 11 s. 80(8)
- Sch. 17A para. 14(4)-(4B) substituted for Sch. 17A para. 1(4) by 2006 c. 25 Sch. 25 para. 7(2)
- Sch. 17A para. 15 Step 1-3 substituted for Sch. 17A para. 15 Step 1-6 by 2006 c. 25 Sch. 25 para. 8(1)
- Sch. 17A para. 19(2)-(6) substituted for Sch. 17A para. 19(2) by 2004 c. 12 Sch. 39 para. 11(6)
- Sch. 17A para. 16 text amended by 2004 c. 12 Sch. 39 para. 11(5)
- Sch. 17A para. 11(5)(a) text amended by 2005 c. 22 Sch. 10 para. 7
- Sch. 17A para. 7(3) text amended by 2006 c. 25 Sch. 25 para. 3(2)
- Sch. 17A para. 12A text amended by 2006 c. 25 Sch. 25 para. 4
- Sch. 17A para. 13 heading text amended by 2006 c. 25 Sch. 25 para. 6(1)
- Sch. 17A para. 13(1) text amended by 2006 c. 25 Sch. 25 para. 6(2)
- Sch. 17A para. 13(2) text amended by 2006 c. 25 Sch. 25 para. 2(2)
- Sch. 17A para. 14(1)(a) text amended by 2006 c. 25 Sch. 25 para. 7(1)
- Sch. 17A para. 19(2) text amended by 2006 c. 25 Sch. 25 para. 5(1)
- Sch. 17A para. 19(4) text amended by 2006 c. 25 Sch. 25 para. 5(2)
- Sch. 17A para. 3(2) text amended by 2008 c. 9 Sch. 30 para. 14
- Sch. 17A para. 3(5) text amended by 2008 c. 9 Sch. 30 para. 14
- Sch. 17A para. 4(1) text amended by 2008 c. 9 Sch. 30 para. 14
- Sch. 17A para. 4(4A) text amended by 2008 c. 9 Sch. 30 para. 14
- Sch. 17A para. 18A(5)(a) text amended by 2008 c. 9 s. 95(12)
- Sch. 17A para. 18A(6) words substituted by 2010 c. 4 Sch. 1 para. 419
- Sch. 17A para. 4(3(d) substituted by 2007 c. 11 s. 80(8)
- specified purposes Appointed Day(s) by S.I. 2003/2899 art. 2 (Day appointed for purposes of stamp duty land tax)
Commencement Orders yet to be applied to the Finance Act 2003:
Commencement Orders
This section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.
Commencement Orders bringing provisions within this Act into force:
- S.I. 2003/1997 art. 2 commences (2003 c. 14)
- S.I. 2003/2497 art. 2 commences (2003 c. 14)
- S.I. 2003/2985 art. 2 commences (2003 c. 14)
- S.I. 2003/3077 art. 2 commences (2003 c. 14)
- S.I. 2004/2823 art. 2 commences (2003 c. 14)
- S.I. 2005/1713 art. 2 commences (2003 c. 14)
Commencement Orders bringing legislation that affects this Act into force:
- S.I. 2004/1945 art. 2 commences (2004 c. 12)
- S.I. 2005/1126 art. 2 commences (2005 c. 11)
- S.I. 2006/1014 art. 2 Sch. 1 2 commences (2005 c. 4)
- S.I. 2008/3068 art. 2-5 commences (2008 c. 17)
- S.I. 2008/3110 art. 2-6 commences (2007 c. 28)
- S.I. 2009/571 art. 2-5 commences (2008 c. 9)
- S.I. 2009/2094 art. 2 commences (2005 c. 22)
- S.I. 2009/3024 art. 3 commences (2008 c. 9)
- S.I. 2009/3250 art. 2 commences (2007 c. 29)
- S.I. 2010/815 art. 2 commences (2009 c. 10)
- S.I. 2010/862 art. 2 3 commences (2008 c. 17)
- S.I. 2010/867 art. 2 commences (2009 c. 10)
- S.I. 2011/462 art. 2 commences (2004 c. 25)
- S.I. 2011/3019 art. 3 Sch. 1 Comencement Order
- S.S.I. 2009/369 art. 3 Sch. 1 commences (2007 asp 3)
- S.S.I. 2011/31 art. 5 amendment to earlier commencing SSI 2008/115 and SSI 2009/67 and SSI 2009/369
- S.R. 2007/37 art. 2 commences (S.I. 2006/3337 (N.I.))
Meaning of “settlement” and “bare trust”E+W+S+N.I.
1(1)In this Part “settlement” means a trust that is not a bare trust.E+W+S+N.I.
(2)In this Part a “bare trust” means a trust under which property is held by a person as trustee—
(a)for a person who is absolutely entitled as against the trustee, or who would be so entitled but for being a minor or other person under a disability, or
(b)for two or more persons who are or would be jointly so entitled,
and includes a case in which a person holds property as nominee for another.
(3)In sub-paragraph (2)(a) and (b) the references to a person being absolutely entitled to property as against the trustee are references to a case where the person has the exclusive right, subject only to satisfying any outstanding charge, lien or other right of the trustee, to resort to the property for payment of duty, taxes, costs or other outgoings or to direct how the property is to be dealt with.
(4)In sub-paragraph (2) “minor”, in relation to Scotland, means a person under legal disability by reason of nonage.
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