A security that is represented by a document of title, the
property in which passes by delivery, is locally situated, for
Inheritance Tax purposes, in the place where that document is found
at the material time.
Att Gen v Bouwens [1838] 4 M & W 171, Winans v Att Gen
[1910] AC 27. This does not apply to certain qualifying
international securities (
IHTM27141)
