(1) Subsection (3) of section 57 of the Principal Act is hereby amended by the substitution of "disposition" for "disposition, or at the date of the gift or the date of the inheritance".
(2) This section shall have effect in relation to securities or units comprised in a gift or an inheritance where the date of the gift or the date of the inheritance is on or after the 26th day of March, 1997, and the securities or units come into the beneficial ownership of the disponer on or after the 26th day of March, 1997, or become subject to the disposition on or after that date without having been previously in the beneficial ownership of the disponer.