Section 620 Meaning of “settlement” and “settlor”C1

In this Chapter—

• “settlement” includes any disposition, trust, covenant, agreement, arrangement or transfer of assets (except that it does not include a charitable loan arrangement), and

• “settlor”, in relation to a settlement, means any person by whom the settlement was made.

A person is treated for the purposes of this Chapter as having made a settlement if the person has made or entered into the settlement directly or indirectly.

A person is, in particular, treated as having made a settlement if the person—

This Chapter applies to settlements wherever made.

In this section—

• “charitable loan arrangement” means any arrangement so far as it consists of a loan of money made by an individual to a charity either—

  1. (a)

     for no consideration, or

  2. (b)

     for a consideration which consists only of interest, and

• “charity” includes

  1. (a)

     F1the Trustees of the National Heritage Memorial Fund, F2and

  2. (b)

     the Historic Buildings and Monuments Commission for EnglandF3...

  3. (c)

     ...

  .