Finance Act, 1992

Amendment of section 102 (interpretation (Part V)) of Finance Act, 1986.

225.—(1) The definition of “chargeable discretionary trust” in section 102 of the Finance Act, 1986 , is hereby amended by the substitution of “21 years” for “25 years” in paragraph (b).

(2) This section shall have effect in relation to any chargeable date occurring on or after the 5th day of April, 1994.