Commentary on Sections Overview Chapter 2: Accrued income profits and losses Section 651: Owner becoming entitled to securities as trustee
1929.This section treats the owner of securities who settles the securities on trust and becomes trustee of them (or one of the trustees of them) as transferring them. It is based on section 720 of ICTA.
1930.The transfer treated as made is then a transfer within the appropriate type or types in section 622 for the purposes of the accrued income scheme.