An `excluded settlement' was defined for years up to and including 2005-06 as:

any settlement the trustees of which are treated as not resident and not ordinarily resident in the United Kingdom for the whole of a year of assessment, see CG33370+

any settlement where the assets are held for charitable purposes only and cannot become applicable for other purposes,

a pension fund for overseas employees, ICTA88/S615 (3)

any approved retirement or dependant's annuity trust scheme, ICTA88/S620 and ICTA88/S621

an approved occupational pension scheme or statutory retirement benefit scheme, Chapter 1 Part XIV ICTA 1988 and

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