# Finance Act 2006, Paragraph 42


After section 73(1) of TCGA 1992 (death of life tenant: exclusion of chargeable gain) insert—
“(1A) Subsection (1)(b) above shall be treated as having effect in relation to a sub-fund settlement if the property does not revert to the trustees of the principal settlement in relation to that sub-fund settlement by reason only that—
(a) a sub-fund election is or has been made in respect of another sub-fund of the principal settlement, and
(b) the property becomes comprised in that other sub-fund settlement on the death of the person entitled to the interest in possession.”

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Source: https://www.legislation.gov.uk/ukpga/2006/25/schedule/12/paragraph/42 (the official version)
Page: https://openlegislation.uk/finance-act-2006/schedule-12/paragraph-42
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.