§ The Solicitor-GeneralI beg to move in page 17, line 29, to leave out "successive."
This is a drafting change. On further consideration we thought the wording used might exclude some cases for relief intended to be included in the Clause. Clause 25 provides for proportionate relief from payment of the new Estate Duty in the case where Succession Duty has been paid on the capital value of a settlement. That would be the case where settled property passes through various persons each of whom is liable at the same rate of Succession Duty; for example, if it goes through the hands of several brothers liable at 10 per cent. We seek to leave out the word "successive" because that might exclude from relief given by the Clause the case, for example, in which a settlement provides for an annuity payable to "A" with the residue of the income to go to "B." It may be said that in that case there was contemporaneous interest and not successive interest. We seek to leave out "successive" so that that kind of case would not be excluded from the benefits conferred on the taxpayer by the Clause.
§ Amendment agreed to.
§ The Solicitor-GeneralI beg to move, in page 18, line 24, to leave out "the whole," and to insert "any."
This Amendment has almost exactly the same purpose as the last Amendment. It makes sure that in a case in which a certain amount of property is taken out of settlement that it is not excluded from the scope of the Clause. The word "whole" might exclude cases where after the settlement was made, some of the property could be taken out of the settlement.
§ Amendment agreed to.
§ Clause, as amended, ordered to stand part of the Bill.
§ Clause 26 ordered to stand part of the Bill.