Paragraph 2 F1

(1)

For the purposes of this Schedule an “interest in settled property” means any interest created by or arising under a settlement.

(2)

This includes any right to, or in connection with, the enjoyment of a benefit—

(a)

created by or arising directly under a settlement, or

(b)

arising as a result of the exercise of a discretion or power—

(i)

by the trustees of a settlement, or

(ii)

by any person in relation to settled property.

Annotations

F1: Sch. 4A inserted (with application in accordance with s. 91(3) of the amending Act) by Finance Act 2000 (c. 17), s. 91(2), Sch. 24