Section 469 Person ceasing to be a settlor

(1)

A person (“S”) who is a settlor in relation to a settlement ceases to be so when the following condition is met.

(2)

The condition is that—

(a)

no property of which S is the settlor is comprised in the settlement,

(b)

S has not undertaken to provide property (directly or indirectly) for the purposes of the settlement in the future, and

(c)

S has not made reciprocal arrangements with another person for that other person to enter into the settlement in the future.

Notes on Chapter 2

C1: Pt. 9 Ch. 2 applied (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 1169(1), 1184(1) (with Sch. 2)