[Revised April 2007 and further updated on 6 August 2008 and 3 October 2008]

A. Transitional serial interests (TSI)

1. Condition 1 contains the requirement that “immediately before 22 March 2006, the property then comprised in the settlement was property in which B, or some other person, was beneficially entitled to an interest in possession (“the prior interest”)”.

2. Can it be confirmed that this requirement will be satisfied where B, or some other person, has a beneficial interest in possession in some of the property then comprised in the settlement but not all the property so comprised.

Example 1

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