Document ID: chunk:federal_register_of_legislation:C2016C00969:section:13:p2
Version: federal_register_of_legislation:C2016C00969
Segment Type: section
Provision Reference: s 13 (pt 2/3)
Character Range: 58587–61124

mentioned in paragraph (c) but without prejudice to such validity as the transfer may have for any other purpose.
 (3) A reference in this section to a scheme being entered into or carried out or a transfer of property being made by a person for a particular purpose shall be read as including a reference to the scheme being entered into or carried out or the transfer being made, as the case may be, by the person for 2 or more purposes of which that particular purpose is the dominant purpose.
 (4) In this section:
 (a) a reference to a transfer of property by a person includes a reference to:
 (i) the execution by the person of a charge on property of the person in favour of another person;
 (ii) the incurring by the person of an obligation in favour of another person; and
 (iii) any scheme that has the effect, directly or indirectly, of diminishing the value of any property of the person and increasing the value of the property of another person or persons; and
 (b) a reference, in relation to a transfer of property to which paragraph (a) applies, to the person to whom the property was transferred is a reference to:
 (i) in a case to which subparagraph (a)(i) applies—the person in whose favour the charge referred to in that subparagraph was executed;
 (ii) in a case to which subparagraph (a)(ii) applies—the person in whose favour the obligation referred to in that subparagraph was incurred; and
 (iii) in a case to which subparagraph (a)(iii) applies—the person, or any of the persons, referred to in that paragraph the value of whose property was increased by reason of the transfer.
 (5) A reference in subsection (4) to a scheme that has the effect, directly or indirectly, of increasing the value of the property of a person includes a reference to a scheme that has the effect, directly or indirectly, that the person becomes the owner of property of which the person would not have been the owner but for the scheme, whether or not the property would have existed but for the scheme.
 (6) A reference in this section to trust recoupment tax shall be read as including a reference to income tax payable by virtue of the operation of section 7 and a reference to future trust recoupment tax shall be read as including a reference to income tax that could reasonably have been expected by the person at the time when the scheme was entered into or carried out to become payable by the person after that time by virtue of the operation of section 7.
 (7) In this section:
future trust recoupment tax, in relation