Section 644 | Application to settlements by two or more settlors

(1)In the case of a settlement where there is more than one settlor, this Chapter has effect in relation to each settlor as if that settlor were the only settlor.

(2)This works as follows.

(3)In this Chapter, in relation to a settlor—

(a)references to the property comprised in a settlement include only property originating from the settlor, and

(b)references to income arising under the settlement include only income originating from the settlor.

(4)For the purposes of sections 629, 631 and 632 only the following are taken into account in relation to a child of the settlor—

(a)income originating from the settlor, and

(b)in a case in which section 631 applies, payments which under that section (as adapted by subsection (5) below) are treated as payments of income.

(5)In applying section 631 to a settlor—

(a)the reference to income arising under the settlement includes only income originating from the settlor, and

(b)the reference to any payment made in connection with the settlement includes only a payment made out of property originating from the settlor or income originating from the settlor.

(6)See section 645 for the meaning of references in this section to property or income originating from a settlor.