Section 63

"Transfer" and "revocable transfer" defined.

63. For the purposes of sections 60, 61 and 62 and of this section,—

(a)a transfer shall be deemed to be revocable if—

(i)it contains any provision for the re-transfer directly or indirectly of the whole or any part of the income or assets to the transferor, or

(ii)it, in any way, gives the transferor a right to re-assume power directly or indirectly over the whole or any part of the income or assets ;

(b)"transfer" includes any settlement, trust, covenant, agreement or arrangement.