132 Charge on settlors of pre-19th March 1991 settlements
Finance Act 1998 (1998 c 36) | Legislation

132  Charge on settlors of pre-19th March 1991 settlements

(1)     In paragraph 9 of Schedule 5 to the Taxation of Chargeable Gains Act 1992 (which sets out when a settlement is a qualifying settlement for the purposes of the attribution of gains to the settlor), after sub-paragraph (1) there shall be inserted the following sub-paragraphs—

“(1A)     Subject to sub-paragraph (1B) below, a settlement created before 19th March 1991 is a qualifying settlement for the purposes of section 86 and this Schedule in—

(a)     the year 1999–00, and

(b)     subsequent years of assessment.

(1B)     Where a settlement created before 19th March 1991 is a protected settlement immediately after the beginning of 6th April 1999, that settlement shall be treated as a qualifying settlement for the purposes of section 86 and this Schedule in a year of assessment mentioned in sub-paragraph (1A)(a) or (b) above only if—

(a)     any of the five conditions set out in subsections (3) to (6A) below becomes fulfilled as regards

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