Capital Acquisitions Tax Consolidation Act 2003 (Number 1 of 2003)
Initial levy on discretionary trusts
14 Interpretation (Chapter 2).
[FA 1984 s104]
In this Chapter—
“object”, in relation to a discretionary trust, means a person for whose benefit the income or capital, or any part of the income or capital, of the trust property is applied, or may be applied;
“principal objects”, in relation to a discretionary trust, means such objects, if any, of the trust for the time being as are—
(a) the spouse of the disponer,
(b) the children of the disponer, or
(c) the children of a child of the disponer where such child pre-deceased the disponer.