(1) Where by any means whatever (including indirect means or means consisting of a series of operations and whenever adopted) a trade, which at any time before the adoption of such means was carried on by any person solely or in partnership, becomes a trade carried on by one or more than one child of such person or such person's civil partner or by means of a partnership in which such person and one or more than one child of such person or such person's civil partner are partners, the following provisions shall apply:
(a) such means shall for the purposes of this Chapter be deemed to constitute a settlement as respects which such person shall be deemed to be the settlor;
(b) the profits or gains arising from the trade after the adoption of such means, in so far as they arise to one or, as the case may be, more than one child of such person or such person's civil partner shall for the purposes of this Chapter be deemed to be the same income as would have arisen to such person had such m
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