Duty on Documents and Transfers Act (Cap. 364), article 35A

35A. (1) No duty shall be levied upon the transfer of any immovable property to a disability trust or a disability foundation where all of the following conditions are met: (i) the main beneficiary shall be the disabled person whereas the parents of the disabled person and/or the other beneficiaries of the disability trust or foundation shall be residual beneficiaries; (ii) the trust instrument or the foundation deed shall state tha t the trustee of the foundation shall hold the immovable property or any sale proceeds thereof solely for the benefit of the disabled person during that person’s lifetime, and that any income of the trust or foundation is to be used exclusively for the maintenance of the disabled person. (2) No duty shall be levied upon the transfer of any immovable property by a trustee of a disability trust or by a disability foundation to the beneficiaries of the disabil ity trust or foundation and/or heirs of the disabled person following his death where the immovable propert y was, prior to the transfer whereby it becomes property of the disabi lity trust or disability foundation, a dwelling house used as the ordinary residence of the parents of the disabled person and in which the disabled person resided during his lifetime up to his death: Cap. 123. P r o v i d e d t h a t s u c h h e i r s a r e persons referred to in article 5(2)(e)(i) of the Income Tax Act in relation to the disabled person. Cap. 123. (3) For the purposes of this article, "disability trust" and "di sability foundation" shall have the same meaning as in article 12(l)( z) of the Income Tax Act .