Paragraph 3A F1

Where a trust is established after the day on which the Finance Act 1994 was passed, the trust deed must make provision as mentioned in one of paragraphs (a) to (c) below—

(a)

provision for the establishment of a body of trustees and complying with paragraph 3(2) to (4) above;

(b)

provision for the establishment of a body of trustees and complying with paragraph 3B(2) to (9) below;

(c)

provision that at any time while the trust subsists there must be a single trustee.

Annotations

Textual amendments

F1: Sch. 5 paras. 3A-3C inserted (3.5.1994) by 1994 c. 9, s. 102, Sch. 13 para. 3

Notes on Schedule 5

Modifications

C1: Sch. 5 applied (6.3.1992 with effect as mentioned in s. 289(1)(2) of the applying Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 228(7), 235(8), 289 (with ss. 60, 101(1), 171, 201(3))