(a) In this subsection, "relevant individual" means an individual who is -
(i) permanently incapacitated by reason of mental or physical infirmity, or
(ii) aged 65 years or over.
(b) Any income which, by virtue of or in consequence of any disposition made directly or indirectly by any person (other than a disposition made for valuable and sufficient consideration), is payable to or applicable for the benefit of any other person, but excluding any income which -
(i) arises from capital of which the disponer by the disposition has divested absolutely himself or herself in favour of or for the benefit of the other person,
(ii) [deleted]
(iii) [deleted]
(iv) being payable to a relevant individual for the individual's own use, is so payable for a period which exceeds or may exceed 6 years, or
(v) being applicable for the benefit of a named relevant individual, is so applicable for a period which exceeds or may exceed 6 years,
shall be deemed for the purposes of the Income Tax Acts to be
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