I move:—
That the exemption conferred by sub-section (3) of Section 5 of the Finance Act, 1894, in the case of settled property where the interest of any person under the settlement fails or determines by reason of his death before it becomes an interest in possession and subsequent limitations under the settlement continue to subsist, shall cease in cases where the property would, if that sub-section had not been enacted, have been deemed to pass on the death otherwise than by reason of the failure or determination of the interest.
This Resolution was already before the Dáil. It was introduced prior to the dissolution to pave the way for a clause in the Finance Bill designed to defeat a device suggested by a writer in a legal journal for avoiding the payment of estate duty in connection with settled property.