The Principal Act is amended -
(a) in section 519 -
(i) in subsection (5)(a) -
(I) by the substitution in subparagraph (iv) of "the trust deed," for "the trust deed, and", and
(II) by the insertion after subparagraph (iv) of the following:
"(iva) the payment of any sum or the transfer of securities to the personal representatives of a deceased beneficiary under the terms of the trust deed, and",
(ii) by the substitution of the following for subsection (7A):
"(7A) Where the trustees of a trust to which this section applies sell securities on the open market, any gain accruing to such trustees shall not be a chargeable gain if, and to the extent that, the proceeds of such sale are used -
(a) to repay monies borrowed by those trustees,
(b) to pay interest on such borrowings, or
(c) to pay a sum to the personal representatives of a deceased beneficiary.",
(iii) by the insertion of the following after subsection (8):
"(8A) Where the trustees of a trust to which this section applies transfer
…