583. Trustees chargeable to income tax at special rate.

If in the case of a settlement in respect of which a heritage direction1 has effect:

  1.  

    (1)     any of the property comprised in the settlement (whether capital or income) is applied otherwise than for a property maintenance purpose2 or, as respects income not so applied or accumulated, for the benefit of a heritage body3; or

  2.  

    (2)     any of that property, on ceasing to be comprised in the settlement, devolves otherwise than on a heritage body; or

  3.  

    (3)     the heritage direction ceases to have effect in respect of the settlement; or

  4.  

    (4)     any of the property comprised in the settlement,