(1)Where an interest limited to cease on a death within the meaning of section 11 after becoming an interest in possession is disposed of or determines wholly or partly then whatever the nature of the property in which the interest subsisted, the following persons shall be accountable for any estate duty payable on the death by virtue of that section (in addition to any persons accountable therefor apart form this section), that is to say.-(a)if the settlement under which the interest subsisted is in existence at the death, the trustees for the time being of that settlement; and(b)if it is not, the persons who were the last trustees of that settlement.
