35 Relevant minors
Finance Act 2005 (2005 c 7) | Legislation

35  Relevant minors

(1)     For the purposes of this Chapter where property is held on trusts for the benefit of a relevant minor those trusts are qualifying trusts if they are—

(a)     statutory trusts for the relevant minor under sections 46 and 47(1) of the Administration of Estates Act 1925 (c 23) (succession on intestacy and statutory trusts in favour of relatives of intestate), or

(b)     trusts to which subsection (2) below applies.

(2)     This subsection applies to trusts—

(a)     established under the will of a deceased parent of the relevant minor, or

(b)     established under the Criminal Injuries Compensation Scheme, [or

(c)     established under the Victims of Overseas Terrorism Compensation Scheme,]

which secure that the conditions in subsection (3) are met.

(3)     Those conditions are—

(a)     that the relevant minor will, on attaining the age of 18, become absolutely entitled to the property, any income arising

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