# Taxation of Chargeable Gains Act 1992, Paragraph 7


(1) In this Schedule “qualifying UK settlement”, in relation to a tax year, means any settlement in relation to which both of the following conditions are met—
(a) the trustees of the settlement are resident in the United Kingdom during any part of the tax year, and
(b) the property comprised in the settlement is not held for a charitable or pensions purpose.
(2) Property comprised in a settlement is held for a charitable purpose if (and only if)—
(a) it is held for charitable purposes only, and
(b) it cannot become applicable for other purposes.
(3) Property comprised in a settlement is held for a pensions purpose if (and only if) it is held for the purposes of—
(a) a registered pension scheme,
(b) a superannuation fund to which section 615(3) of the Taxes Act applies, or
(c) an occupational pension scheme (within the meaning of section 150(5) of the Finance Act 2004) that is not a registered pension scheme.
(4) For this purposes of any provision of this Schedule other than paragraph 8 a settlement is not a qualifying UK settlement if—
(a) in the case of one for the benefit of a disabled person, it was made before 10 March 1981, or
(b) in any other case, it was made before 6 June 1978.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/1C/paragraph/7 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-1C/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.