Section 12 Approval of property for acceptance in satisfaction of tax.

. . . F1

The power of the Commissioners of Inland Revenue to accept property in satisfaction of estate duty under the provisions mentioned in subsection (3) of section 8 above shall not be exercisable except with the agreement of F2the Secretary of State; and the Secretary of State shall exercise the functions conferred on the Treasury by the provisions mentioned in paragraphs (b) and (c) of that subsection. . . F3.

Any question whether an object or collection or group of objects is pre-eminent shall be determined under the provisions mentioned in section 8(3)(b) or (c) above in the same way as under F4section 230(4) of the Capital Transfer Tax Act 1984.