35(1)In each of the provisions set out in sub-paragraph (2)—U.K.
(a)for “resident in the United Kingdom during any part of the year or ordinarily resident in the United Kingdom during the year” substitute “ resident and ordinarily resident in the United Kingdom during any part of the year ”, and
(b)for “such residence or ordinary residence” substitute “ such residence and ordinary residence ”.
(2)Those provisions are—
(a)section 86(2)(b) (trustees resident outside United Kingdom),
(b)section 88(1) (gains of dual resident settlements), and
(c)paragraph 5(1) of Schedule 4C (chargeable amount: dual resident settlement).
(3)Sub-paragraph (2)(c) shall have effect in relation to a transfer of value made on or after 6th April 2007 (in relation to settlements whenever created).
Commencement Information
I1Sch. 12 paras. 35-40 in force at 6.4.2007 unless otherwise expressly provided see Sch. 12 para. 41