“…Clarkson v Clarkson [1994] BCC 921 (CA) is binding authority in this Court for the proposition that a ‘transaction’ in this context must involve the giving away of property which would otherwise…”
“…e from the distinction between power and property is effected solely by legislation. As Lord St Leonards said (and Hoffmann LJ approved [in Clarkson v Clarkson [1994] BCC 921]), ‘To take a distinction between a general power and a limitation in fee is to grasp at a shadow while the substance escapes’, and in In re Triffitt’s Settlem…”
“…Mr Rabinowitz placed some emphasis on Clarkson v Clarkson [1994] BCC 921. In that case, the three directors and shareholders of a company each took out life insurance on their own lives. Each policy was held by the three directors o…”