Section 98 “Transfer” and “revocable transfer” defined
(a) “transfer” includes any settlement, trust, covenant, agreement or arrangement;
(b) a transfer shall be deemed to be revocable, if––
(i) it contains any provision for the direct or indirect re-transfer of the whole or any part of the income or assets to the transferor; or
(ii) it, in any way, gives the transferor a right to re-assume power directly or indirectly over the whole or any part of the income or assets.