§
Resolved,
That where any property which, while enjoyed in kind, is exempt from Estate Duty by virtue of Section twenty of the Finance Act, 1896, and the Acts amending that Act, is sold, Death Duties shall become chargeable on the proceeds of sale in respect of the last death on which the property passed and, as respects Estate Duty, at the rate appropriate to the principal value of the estate passing on fiat death."—[Mr. Snowden.]