Section 96 | Inheritance tax: gifts for national purposes etc

(1)The Schedule 3 IHTA approval function is transferred to the Treasury.

(2)The “Schedule 3 IHTA approval function” is the function of approval conferred by Schedule 3 to IHTA 1984 in the entry beginning “Any other similar national institution” (and which was initially conferred on the Treasury but, along with other functions, transferred to the Commissioners of Inland Revenue under section 95 of FA 1985).

(3)Subsection (1) does not affect any approval given under Schedule 3 to IHTA 1984 before this Act is passed.

(4)In Schedule 3 to IHTA 1984 (gifts for national purposes, etc), in the entry beginning “Any museum”, after “and is” insert “ or has been ”.