§ Mr. Tomlinsonasked the Chancellor of the Exchequer whether the provisions of Section 46 of the Finance Act 1975 apply to a testamentary provision on death.
§ Dr. GilbertNo. The exemption afforded by Section 46 applies only to dispositions in the donor's lifetime. In this respect my comment in the discussions on the Finance Bill at Report stage—[Official Report, 5th March 1975; c. 1597]—was misleading and I regret this.