Finance Act 2014

Amendment of section 189A of Principal Act (special trusts for permanently incapacitated individuals)

10. Section 189A(1) of the Principal Act is amended in the definition of “qualifying trust” by substituting the following for subparagraph (b)(ii):

“(ii) the undistributed part of the trust funds—

(I) where the individual or the last surviving individual, as the case may be, is survived by a child, spouse or civil partner, be appointed in favour of the estate of the deceased individual, or

(II) otherwise, be applied for charitable purposes or be appointed in favour of the trustees of charitable bodies,”.