- "Transfer" and "revocable transfer" defined.
- 63.
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.
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