579C Death of trustee: special rules.

(1)Subsection (2) applies where—

(a)section 579B applies as a result of the death of a trustee of a settlement, and

(b)within the period of 6 months beginning with the death, the trustees of the settlement become resident and ordinarily resident in the State.

(2)Section 579B shall apply as if the defined assets were restricted to such assets (if any) as—

(a)would be defined assets apart from this section, and

(b)fall within subsection (3).

(3)Assets fall within this subsection if they were disposed of by the trustees in the period which—

(a)begins with the death, and

(b)ends when the trustees become resident and ordinarily resident in the State.

(4)Where—

(a)at any time the trustees of a settlement become resident and ordinarily resident in the State as a result of the death of a trustee of the settlement, and

(b)section 579B applies as regards the trustees of the settlement in circumstances where the relevant time (within the meaning of that section) falls within the period of 6 months beginning with the death,

that section shall apply as if the defined assets were restricted to such assets (if any)—

(i)as would be defined assets but for this section, and

(ii)which the trustees acquired in the period beginning with the death and ending with the relevant time.