1022. Transfers between settlements.

Where property which ceases to be comprised in one settlement becomes comprised in another then, unless in the meantime any person becomes beneficially entitled to the property (and not merely to an interest in possession in the property), it is treated as remaining comprised in the first settlement1.

Where a reversionary interest in relevant property2 to which:

  1.  

    (1)     a person who acquired it for a consideration in money or money's worth3; or

  2.  

    (2)     the settlor or the spouse or civil partner of the settlor