Regulation 2 Interpretation

In these Regulations—

• “the 1984 Act” means the Inheritance Tax Act 1984;

• “the Board” means the Commissioners of Inland Revenue;

• “a chargeable event” means an occasion on which tax is chargeable under section 64 (charge at ten-year anniversary) or section 65 (charge at other times) of the 1984 Act;

• “an excepted settlement” has the meaning given in regulation 3;

• “qualifying interest in possession” has the meaning given in section 59 of the 1984 Act^f1;

• “related settlement” has the meaning given in section 62 of the 1984 Act;

• “settlement” has the meaning given in section 43 of the 1984 Act;

• “settlor” has the meaning given in section 44 of the 1984 Act;

• “trustee” has the meaning given in section 45 of the 1984 Act;

• “value” means value for the purposes of tax.