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Finance Act 2018

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Purchase etc by person appointed under Mental Capacity Act 2005 to make decisions for a child

6(1)In paragraph 12 (settlements and bare trusts with beneficiaries who are children) after sub-paragraph (1) insert—

(1A)But this paragraph does not apply if the trustee (or any of the trustees) of the settlement or bare trust concerned—

(a)was the purchaser in relation to the land transaction,

(b)holds the interest in the dwelling, or

(c)disposed of the interest in the dwelling,

in the exercise of powers conferred on the trustee by reason of a relevant court appointment made in respect of the child concerned.

(1B)In sub-paragraph (1A) “relevant court appointment” means—

(a)an appointment under section 16 of the Mental Capacity Act 2005,

(b)an appointment under section 113 of the Mental Capacity Act (Northern Ireland) 2016, or

(c)an equivalent appointment under the law of a country or territory outside England, Wales and Northern Ireland.

(2)In paragraph 17 (dwellings outside England, Wales and Northern Ireland) after sub-paragraph (5) insert—

(5A)Sub-paragraph (4) does not apply if the interest in the dwelling was acquired in the child’s name or on the child’s behalf by a person acting in exercise of powers conferred on that person by reason of a relevant court appointment made in respect of the child.

(5B)In sub-paragraph (5A) “relevant court appointment” has the meaning given by paragraph 12(1B).

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