CG67848 - Reliefs: employee-ownership trusts: conditions: the 'all-employee benefit requirement': cases in which the requirement is treated as met: 'application of settled property' condition: circumstances in which the 'behaviour requirement' is not infringed

The 바카라 사이트˜behaviour requirement바카라 사이트™, see CG67847, is an element of the 바카라 사이트˜application of settled property바카라 사이트™ condition, which is one of the conditions it is necessary for an existing settlement to meet in order for it to be treated as meeting the 바카라 사이트˜all-employee benefit requirement바카라 사이트™, see CG67844.

The question of whether or not the 바카라 사이트˜behaviour requirement바카라 사이트™ is infringed is subject to rules similar to those governing the 바카라 사이트˜equality requirement바카라 사이트™, see CG67840 and CG67841. The 바카라 사이트˜behaviour requirement바카라 사이트™ will not be infringed by reason only that the trustees act in one or more of the following ways.

TCGA92/S236L(4)(a)

They apply any of the settled property, where an eligible employee has died, as if the surviving spouse, civil partner or dependant of the deceased person were the eligible employee for a period of 12 months, or such shorter period as the trustees may determine, starting with the time of death. For this purpose it is assumed that the employment continued throughout the period after death.

TCGA92/S236L(4)(b)

They apply the settled property only for the benefit of persons who have been eligible employees for a continuous period of 12 months or such shorter period as the trustees determine.

TCGA92/S236L(4)(c)

They comply with a written request from a person that the trustees do not apply any of the settled property for the benefit of that person.

TCGA92/S236L(4)(d)

They have complied with the terms of the trusts of the settlement that prevent the settled property being applied for the benefit of some or all of the persons who are 바카라 사이트˜eligible employees바카라 사이트™ only because they are office holders in the company.

TCGA92/S236L(5)

That in addition to applying any of the settled property for the benefit of all eligible employees on the same terms, they apply any of it for charitable purposes.

The main difference between the rules affecting the 바카라 사이트˜behaviour requirement바카라 사이트™ and those affecting the 바카라 사이트˜equality requirement바카라 사이트™ is that the latter principally relate to the terms of the trust whereas the former are concerned with how the trustees have operated the trust.