Valid from 01/04/2015

SCHEDULE 18 S Trusts

PART 4 S Transactions involving settlements

Consideration for exercise of power of appointment or discretion S

11 S Paragraph 12 applies where a chargeable interest is acquired by virtue of—

(a) the exercise of a power of appointment, or

(b) the exercise of a discretion vested in trustees of a settlement.

12 S Any consideration given for the person in whose favour the appointment was made or the discretion was exercised becoming an object of the power or discretion is to be treated for the purpose of this Act as the consideration for the acquisition of the interest.