Section 169E Meaning of “settlor” in sections 169B to 169D and 169GF1

United Kingdom

(1)

For the purposes of this section F2and, sections 169B to 169D F3... , a person is a settlor in relation to a settlement if—

(a)

he is an individual, and

(b)

the settled property consists of, or includes, property originating from him.

(2)

In subsection (1) above, the reference to property originating from a settlor is a reference to—

(a)

property which that settlor has provided directly or indirectly for the purposes of the settlement, and

(b)

property which wholly or partly represents that property or any part of it.

(3)

In subsection (2) above, the references to property which a settlor has provided directly or indirectly—

(a)

include references to property which has been provided directly or indirectly by another person in pursuance of reciprocal arrangements with that settlor, but

(b)

do not include references to property which that settlor has provided directly or indirectly in pursuance of reciprocal arrangements with another person.

(4)

In subsection (2) above, the reference to property which represents other property includes a reference to property which represents accumulated income from that other property.

Annotations

Textual amendments

F1: Ss. 169B-169G inserted (with effect in accordance with Sch. 21 para. 10(4) of the amending Act) by Finance Act 2004 (c. 12), Sch. 21 para. 4
F2: Word in s. 169E(1) inserted (13.8.2009) by The Finance Act 2009, Schedule 47 (Consequential Amendments) Order 2009 (S.I. 2009/2035), art. 1, Sch. para. 30(a)
F3: Words in s. 169E(1) omitted (13.8.2009) by virtue of The Finance Act 2009, Schedule 47 (Consequential Amendments) Order 2009 (S.I. 2009/2035), art. 1, Sch. para. 30(b)

Notes on Part V

Textual amendments

F1: Words in Pt. 5 heading inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 14 para. 1(1)
F2: Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))