Section 645 | Property or income originating from settlor

(1)References in section 644 to property originating from a settlor are references to—

(a)property which the settlor has provided directly or indirectly for the purposes of the settlement,

(b)property representing property so provided, and

(c)so much of any property which represents both property so provided and other property as, on a just and reasonable apportionment, represents the property so provided.

(2)References in sections 627 and 644 to income originating from a settlor are references to—

(a)income from property originating from the settlor, and

(b)income provided directly or indirectly by the settlor.

(2A)If the same property has been provided by more than one settlor for the purposes of the settlement, so much of the property as is attributable to each settlor on a just and reasonable apportionment is treated for the purposes of this section as provided by that settlor.

(3)In this section references to property or income which a settlor has provided directly or indirectly—

(a)include references to property or income which has been provided directly or indirectly by another person under reciprocal arrangements with the settlor, but

(b)do not include references to property or income which the settlor has provided directly or indirectly under reciprocal arrangements with another person.

(4)In this section references to property which represents other property include references to property which represents accumulated income from the other property.