(1) Part 38 of the Principal Act is hereby amended in Chapter 5 -
(a) in section 917 -
(i) by the substitution for "within section 579 or 590" of "within sections 579 to 579F and section 590", and
(ii) by the substitution for "under section 579 or 590" of "under sections 579 to 579F or section 590",
(b) by the insertion after section 917 of the following sections:
"917A. Return of property transfers to non-resident trustees.
(1) In this section and in sections 917B and 917C 'appropriate inspector' shall be construed in accordance with section 950.
(2) This section applies where -
(a) on or after the 11th day of February, 1999, a person (in this section referred to as the 'transferor') transfers property to the trustees of a settlement otherwise than under a transaction entered into at arm's length,
(b) the trustees of the settlement are neither resident nor ordinarily resident in the State at the time the property is transferred, and
(c) the transferor knows or has reason to believe, t
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