Subsection (2) below applies where—
section 80 applies as a result of the death of a trustee of the settlement, and
within the period of 6 months beginning with the death, the trustees of the settlement become resident ... in the United Kingdom.
That section shall apply as if the defined assets were restricted to such assets (if any) as—
would be defined assets apart from this section, and
fall within subsection (3) or (4) below.
Assets fall within this subsection if they were disposed of by the trustees in the period which—
begins with the death, and
ends when the trustees become resident ... in the United Kingdom.
Assets fall within this subsection if—
they are of a description specified in any double taxation relief arrangements,
they constitute settled property of the settlement at the time immediately after the trustees become resident ... in the United Kingdom, and
were the trustees to dispose of them at that time, the trustees would fall to be regarded for the purposes of the arrangements as not liable in the United Kingdom to tax on gains accruing to them on the disposal.
Subsection (6) below applies where—
at any time the trustees of a settlement become resident ... in the United Kingdom as a result of the death of a trustee of the settlement, and
section 80 applies as regards the trustees of the settlement in circumstances where the relevant time (within the meaning of that section) falls within the period of 6 months beginning with the death.
That section shall apply as if the defined assets were restricted to such assets (if any) as—
would be defined assets apart from this section, and
fall within subsection (7) below.
Assets fall within this subsection if—
the trustees acquired them in the period beginning with the death and ending with the relevant time, and
they acquired them as a result of a disposal in respect of which relief is given under section 165 or in relation to which section 260(3) applies.