I move:—
(1) That, for the purposes of the last paragraph of sub-section (1) of Section 11 of the Customs and Inland Revenue Act, 1889 (which, as applied for the purposes of estate duty, provides that money received under a policy of assurance effected by the deceased person on his life and kept up by him shall be treated as passing on his death), so much of the premiums paid on any policy of assurance as was, by virtue or in consequence of a settlement made by the deceased, paid out of property, whether or not provided by the deceased, comprised in the settlement, or out of income, whether or not provided by the deceased, arising under the settlement, shall, subject to paragraph (2) of this Resolution, be treated as having been paid by the deceased.
(2) That any payments referred to in paragraph (1) of this Resolution which were not made either out of property provided directly or indirectly by the deceased for the purposes of the settlement, or out of property representing that property, or out of income provided directly or indirectly by the deceased whether arising from such property or otherwise, shall not be treated as having been made by the deceased if the Revenue Commissioners are satisfied that those payments were not made as part of any reciprocal arrangements between the deceased and any other person.
(3) That, for the purposes of the said enactment in the Customs and Inland Revenue Act, 1889, a policy of assurance on the life of a deceased person effected by virtue or in consequence of a settlement made by the deceased shall be treated as having been effected by the deceased.
(4) That the provisions contained in this Resolution shall be deemed to have had effect as respects persons dying on or after the 4th day of May, 1949.
(5) That for the purposes of this Resolution—
(a) the expression "settlement" includes any disposition, trust, covenant, agreement, or arrangement; and
(b) a person shall be deemed to have made a settlement if he has made or entered into the settlement directly or indirectly, and in particular (but without prejudice to the generality of the foregoing words of this sub-paragraph) if he has provided or undertaken to provide funds directly or indirectly for the purposes of the settlement, or has made with any other person a reciprocal arrangement for that person to make or enter into the settlement.