'Relevant property' means settled property in which no qualifying interest in possession1 subsists, other than:
(1) property held for charitable purposes only, whether for a limited time or otherwise2;
(2) property to which the provisions relating to accumulation and maintenance trusts3, trusts for bereaved minors4, aged 18-25 trusts5, pre-1978 protective trusts6, pre-1981 trusts for disabled persons7 or trusts for the benefit of employees8 apply9
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