Commentary on Sections Overview Overview Section 472: Settlor where property becomes settled because of variation of will etc
1365.This section identifies the settlor in certain cases where a will is varied after a person dies. It is based on section 685D of ICTA.
1366.The rules are the same as those that apply in section 68C of TCGA.
1367.Subsection (2) applies when property becomes settled property in consequence of the variation, but would not otherwise have become settled property. In that case a person specified in subsection (3) is treated as the settlor.
1368.In subsection (3), the expression “under a disability” in section 685D(3) of ICTA has been rewritten as “lacking legal capacity”. This does not change the substance.
1369.In subsection (4), the expression “donatio mortis causa” has been retained, in the absence of any simple English expression that adequately summarises its meaning.