Hong Kong Regulations

INTESTATE SUCCESSION (RECKONING OF CAPITAL VALUE) - SECT 3

Reckoning of capital value of life interest

(1) Where an election is exercised in accordance with paragraph 5 of Schedule
1 to the Ordinance, the capital value of the life interest of the surviving
party to a union of concubinage shall be reckoned in the manner prescribed in
this Notice, which manner is approved by the Chief Justice.

(2) There shall be ascertained the Rate; and the column which corresponds to
that Rate in whichever of the Tables set out in the Schedule is applicable to
the sex of the surviving party to a union of concubinage shall be the
appropriate column for the purposes of subsection

(3).

(3) The capital value for the purposes of subsection (1) is the product of the
part of the residuary estate (whether or not yielding income) in respect of
which the election is exercised and the multiplier shown in the appropriate
column opposite the age which the surviving party to a union of concubinage
has attained at the election date. (Enacted 1995)