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SCHEDULES

SCHEDULE 12Settlements: amendment of TCGA 1992 etc

Part 3Consequential and minor amendments

General

23(1)In section 251(5) (debts: trustee creditors)—

(a)for “Where the original creditor is a trustee and the debt, when created, is settled property” substitute “Where the trustees of a settlement are the original creditor”, and

(b)for “as against the trustee” substitute “as against the trustees”.

(2)This paragraph shall have effect in relation to debts created on or after 6th April 2006.