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26.(1) Where under Article 25 the Department becomes entitled to recover any amount from any person, all property then or thereafter beneficially owned (whether solely, jointly or severally) by that person, shall (a)as from the date on which the Department first becomes so entitled; or (b)in the case of property which did not become so owned until after that date, as from the date on which it first becomes so owned; (2) In this Article "disposing" includes making any conveyance, transfer, lease, release, exchange, surrender, licence, grant or other assurance of or affecting, as well as any mortgage of, or charge created upon, any property whatsoever; "purchaser" means a person who acquires the estate or interest disposed of in good faith and for valuable consideration in money or money's worth without notice of any trust created by paragraph (1) or of any fraud, misrepresentation or non-disclosure giving rise to the creation of such a trust. (3) In this Article (a)references to property beneficially owned by a person include references to property over which that person is entitled to exercise a general power of appointment; and (b)references to property passing on death include references to property passing by survivorship as well as under a will or on an intestacy but do not include references to settled property passing on the death of a tenant for life unless the tenant for life was also both the settlor and the person from whom the Department is entitled to recover any amount under Article 25.
© 1977 Crown Copyright
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