sec.304Meaning of former prescribed power

sec.304 Meaning of former prescribed power

For this subdivision, if— at any time during the relevant period, the trust instrument for a prescribed trust included an express power mentioned in the repealed Act, section 108; and the express power applied in relation to a non-charitable eligible recipient, whether or not the express power also applied in relation to another eligible recipient; the express power, to the extent it applied in relation to a non-charitable eligible recipient, is a former prescribed power for the prescribed trust. Also, for this subdivision, if— at any time during the relevant period, the powers of the trustees of a prescribed trust included a power conferred under the repealed Act, section 109; and the power applied in relation to a non-charitable eligible recipient, whether or not the power also applied in relation to another eligible recipient; the power, to the extent it applied in relation to a non-charitable eligible recipient is a former prescribed power for the prescribed trust. In this section— eligible recipient means an eligible recipient within the meaning of the repealed Act, section 107. non-charitable eligible recipient means an eligible recipient that— was not charity at law; or without limiting paragraph (a), was not established for 1 or more charitable purposes. (sec.304-ssec.1) For this subdivision, if— at any time during the relevant period, the trust instrument for a prescribed trust included an express power mentioned in the repealed Act, section 108; and the express power applied in relation to a non-charitable eligible recipient, whether or not the express power also applied in relation to another eligible recipient; the express power, to the extent it applied in relation to a non-charitable eligible recipient, is a former prescribed power for the prescribed trust. (sec.304-ssec.2) Also, for this subdivision, if— at any time during the relevant period, the powers of the trustees of a prescribed trust included a power conferred under the repealed Act, section 109; and the power applied in relation to a non-charitable eligible recipient, whether or not the power also applied in relation to another eligible recipient; the power, to the extent it applied in relation to a non-charitable eligible recipient is a former prescribed power for the prescribed trust. (sec.304-ssec.3) In this section— eligible recipient means an eligible recipient within the meaning of the repealed Act, section 107. non-charitable eligible recipient means an eligible recipient that— was not charity at law; or without limiting paragraph (a), was not established for 1 or more charitable purposes.

• (a) at any time during the relevant period, the trust instrument for a prescribed trust included an express power mentioned in the repealed Act, section 108; and
• (b) the express power applied in relation to a non-charitable eligible recipient, whether or not the express power also applied in relation to another eligible recipient;