982. Property subject to a reservation.

The following provisions apply1 where on or after 18 March 19862, an individual disposes of any property by way of gift3 and either:


    (1)     possession and enjoyment of the property is not bona fide4 assumed by the donee at or before the beginning of the relevant period5; or


    (2)     at any time in the relevant period the property6 is not enjoyed to the entire exclusion, or virtually to the entire exclusion, of the donor and of any benefit to him by contract or otherwise