3Definition of “personal chattels”
(1)For paragraph (x) of section 55(1) of the Administration of Estates Act 1925 (definitions) substitute—
“(x)Personal chattels” means tangible movable property, other than any such property which—
consists of money or securities for money, or
was used at the death of the intestate solely or mainly for business purposes, or
was held at the death of the intestate solely as an investment:”.
(2)If a will or codicil containing a reference to personal chattels defined (in whatever form of words) by reference to section 55(1)(x) of the Administration of Estates Act 1925 was executed before the coming into force of subsection (1), then unless the contrary intention appears subsection (1) is to be disregarded in interpreting the reference to personal chattels.