Paragraph 106
(1)
Schedule 4A (disposal of interest in settled property: deemed disposal of underlying assets) is amended as follows.
(2)
In paragraph 5(1) and (2), omit “and ordinarily resident”.
(3)
In paragraph 6(1)—
(a)
for “in the relevant” substitute “ as respects the relevant ”, and
(b)
for the words from “either” to the end substitute “ met the residence condition set out in section 2(1A) ”.
(4)
If any of the previous 5 years of assessment mentioned in paragraph 6(1) of Schedule 4A ends before 6 April 2013, the test in that paragraph is to be applied, as respects any such year ending before that date, as if that paragraph had not been amended by sub-paragraph (3).