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Chapter 2
Initial levy on discretionary trusts
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Interpretation (Chapter 2).
[FA 1984 s104]
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14.—In this Chapter—
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“object”, in relation to a discretionary trust, means a person for whose benefit the income or capital, or any part of the income or capital, of the trust property is applied, or may be applied;
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“principal objects”, in relation to a discretionary trust, means such objects, if any, of the trust for the time being as are—
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(a) the spouse of the disponer,
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(b) the children of the disponer, or
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(c) the children of a child of the disponer where such child predeceased the disponer.
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