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Returns in relation to settlements and trustees.
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93.— The Principal Act is amended by inserting the following after section 896:
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“896A.— (1) In this section—
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‘ authorised officer ’ means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred on them by this section;
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‘ settlement ’ and ‘ settlor ’ have the same meanings respectively as in section 10.
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(2) Where any person, in the course of a trade or profession carried on by that person, has been concerned with the making of a settlement and knows or has reason to believe that, at the time of the making of the settlement—
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(a) the settlor was resident or ordinarily resident in the State, and
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(b) the trustees of the settlement were not resident in the State,
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then that person shall, within the period specified in subsection (3), deliver to the appropriate inspector (within the meaning assigned by section 894(1)) a statement specifying—
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(i) the name and address of the settlor,
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(ii) the names and addresses of the persons who are the trustees of the settlement, and
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(iii) the date on which the settlement was made or created.
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(3) The statement referred to in subsection (2) shall be delivered—
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(a) in a case where the settlement is one made on or after the date of the passing of the Finance (No. 2) Act 2008, within 4 months of the date of the making of the settlement, or
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(b) in a case where the settlement is one made within the 5 year period prior to the passing of the Finance (No. 2) Act 2008, within 6 months of the date of the passing of the Act.
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(4) For the purposes of this section trustees of a settlement shall be regarded as not resident in the State unless the general administration of the settlement is ordinarily carried on in the State and the trustees or a majority of each class of trustees are for the time being resident in the State.
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(5) An authorised officer may by notice in writing require any person, whom the authorised officer has reason to believe has information relating to a settlement, to furnish to the authorised officer such information within such time as the authorised officer may direct.”.
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