PART IV

Capital Transfer Tax
CHAPTER II

Settlements Without Interests in Possession

Principal definitions

Relevant property
102
1
In this Chapter " relevant property " means settled property in which no qualifying interest in possession subsists, other than—
a
property held for charitable purposes only, whether for a limited time or otherwise ;
b
property to which section 114 below applies ;
c
property to which paragraph 2 of Schedule 16 to this Act applies;
d
property which is part of or held for the purposes of a fund or scheme to which paragraph 16 of Schedule 5 to the Finance Act 1975 applies (superannuation schemes);
e
property to which paragraph 17 of that Schedule applies (trusts for employees etc. and newspaper trusts);
f
property which is held on trusts to the like effect as those specified in section 33(1)(ii) of the Trustee Act 1925 (protective trusts) and which became held on those trusts on the failure or determination before 12th April 1978 of trusts to the like effect as those specified in section 33(1)(i);
g
property within paragraph 19 of Schedule 5 to the Finance Act 1975 (trusts for disabled persons), as it applies to property which was transferred into settlement before 10th March 1981 ;
h
property comprised in a trade or professional compensation fund; and
i
excluded property.
2
The reference in subsection (1)(d) above to property which is part of or held for the purposes of a fund or scheme does not include a reference to a benefit which, having become payable under the fund or scheme, becomes comprised in a settlement.
1975 c. 7.
1925 c. 19.