(a) In this section -
"personal representative" has the same meaning as in section 799(1);
"trustees" does not include personal representatives, but where personal representatives, on or before the completion of the administration of the estate of a deceased person, pay to trustees any sum representing income which, if the personal representatives were trustees, would be income to which this section applies, that sum shall be deemed to be paid to the trustees as income and to have borne income tax at the standard rate.
(b) This subsection shall be construed together with Chapter 1 of this Part.
(2) This section shall apply to income arising to trustees in any year of assessment in so far as it -
(a) is income which is to be accumulated or which is payable at the discretion of the trustees or any other person, whether or not the trustees have power to accumulate the income,
(b) is neither, before being distributed, the income of any person other than the trustees nor treated for any
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