88 Protective trusts
Inheritance Tax Act 1984 (1984 c 51) | Legislation

88  Protective trusts

(1)     This section applies to settled property (other than property to which section 73 above applies) which is held on trusts to the like effect as those specified in section 33(1) of the Trustee Act 1925; and in this section “the principal beneficiary” and “the trust period” have the same meanings as in that section.

(2)     For the purposes of this Act—

(a)     there shall be disregarded the failure or determination, before the end of the trust period, of trusts to the like effect as those specified in paragraph (i) of the said section 33(1), and

(b)     the principal beneficiary shall be treated as beneficially

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