Commentary on Sections Inheritance Tax Functions Section 322: Director’s functions: certain settlements
461.This section makes similar provision in cases of settlements of property which are not subject to a “qualifying interest in possession” (i.e. broadly, they are held on discretionary trusts).
462.In these cases, the Director may assume the Revenue's inheritance tax functions if he has reasonable grounds to believe that all or part of the property comprised in the settlement is criminal property.
463.The section includes provisions equivalent to those in subsections (2) to (4), (6) and (7) of section 317.