Capital Acquisitions Tax Consolidation Act 2003 (Number 1 of 2003)
Annual levy on discretionary trusts
19 Interpretation (Chapter 3).
[FA 1986 s102]
In this Chapter—
“chargeable date”, in relation to any year, means 5 April in that year;
“chargeable discretionary trust” means a discretionary trust in relation to which—
(a) the disponer is dead, and
(b) none of the principal objects of the trust, if any, is under the age of 21 years;
“object” and “principal objects”, in relation to a discretionary trust, have the meanings respectively assigned to them by section 14.