I12.413 Electing out

I12.413 Electing out

A chargeable person can elect that the provisions of Sch 15 will not apply to him but that the property in question (be it land, chattels or intangibles comprised in a settlement) will, so long as he continues to enjoy it (or, in the case of intangibles comprised in a settlement, so long as it remains comprised in a settlement to which ICTA 1988, s 660A applies) be treated as property subject to a reservation in relation to him and that FA 1986, ss 102(3) and (4) will apply to it accordingly1.

The election must be made on

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