Amendment status not verified — confirm the current text below against the official source.
For the purposes of sections 60, 61 and 62 and of this section,-- (a) a transfer shall be deemed to be revocable if-- (i) it contains any provision for the re-transfer directly or indirectly of the whole or any part of the income or assets to the transferor, or (ii) it, in any way, gives the transferor a right to re-assume power directly or indirectly over the whole or any part of the income or assets; (b) "transfer" includes any settlement, trust, covenant, agreement or arrangement.