SCHEDULE 20 Gifts with Reservation
Finance Act 1986 (1986 c 41) | Legislation

SCHEDULE 20 Gifts with Reservation

Section 102

Interpretation and application

1

(1)     In this Schedule—

“the material dateâ€, in relation to any property means, in the case of property falling within subsection (3) of the principal section, the date of the donor's death and, in the case of property falling within subsection (4) of that section, the date on which the property ceases to be property subject to a reservation;

“the principal section†means section 102 of this Act; and

“property subject to a reservation†has the same meaning as in the principal section.

(2)     Any reference in this Schedule to a disposition by way of gift is a reference to such a disposition which is made on or after 18th March 1986.

(3)     This Schedule has effect for the purposes of the principal section and the 1984 Act.

Substitutions and accretions

2

(1)     Where there is a disposal by way of gift and, at any time before the material date, the donee ceases to have the possession and enjoyment of any of the property comprised in the gift, then on and after that time the principal section and the following provisions of this

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