In Chapter 3 of Part 3 of IHTA 1984 (settled property: settlements without interests in possession etc), section 58 (relevant property) is amended as follows.
In subsection (1), omit the "and" at the end of paragraph (ea) and before paragraph (f) insert—
At the end insert—
This section is treated as having come into force on 20 March 1993.
For the purposes of section 58 of IHTA 1984—
any reference in that section to Part 4 of the Petroleum Act 1998 has effect, in relation to any period before the coming into force of that Part, as a reference to Part 1 of the Petroleum Act 1987, and
section 38A of the Petroleum Act 1998 is to be treated as having come into force at the same time as this section.
There is to be no charge to tax under section 65 of IHTA 1984 if the only reason for such a charge would be that property ceases to be relevant property by virtue of the coming into force of this section.