"income" (except where in sections 795(1), 796(2)(b) and subsections (4) and (5) of section 797 it is immediately preceded by "as" or "that person's" and except also in section 798) includes any income chargeable to income tax by deduction or otherwise and any income which would have been so chargeable if it had been received in the State by a person resident or ordinarily resident in the State;
"settlement" includes any disposition, trust, covenant, agreement or arrangement, and any transfer of money or other property or of any right to money or other property.
(2) This Chapter shall apply to every settlement wherever and whenever made or entered into.
(3) This Chapter shall not apply in relation to any income arising under a settlement in any year of assessment for which the settlor is not chargeable to income tax as a resident in the State, and references in this Chapter to income shall be construed accordingly.
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