46. Further limitations.
Any allowance which, but for this provision, would be made under section 44 for a debt incurred by the deceased as mentioned in clause (a) of that section, or for an incumbrance created by a disposition made by the deceased as therein mentioned, shall be subject to abatement to an extent proportionate to the value of any of the consideration given therefor which consisted of--
property derived from the deceased; or
consideration not being such property as aforesaid, but given by any person who was at any time entitled to, or amongst whose resources there was at any time included, any property derived from the deceased: Provided that if, where the whole or a part of the consideration given consisted of such consideration as is mentioned in clause (b) of this sub- section, it is proved to the satisfaction of the Controller that the value of the consideration given, or of that part thereof,
as the case may be, exceeded that which could have been rendered available by application of all the property derived from the deceased, other than such (if any) of that property as is included in the consideration given or as to which the like facts are proved in relation to the giving of the consideration as are mentioned in the proviso to sub- section (1) of section 16 in relation to the purchase or provision of an annuity or other interest, no abatement shall be made in respect of the excess.
Money or money' s worth paid or applied by the deceased in or towards satisfaction or discharge of a debt or incumbrance in the case of which sub- section (1) would have had effect on his death if the debt or incumbrance had not been satisfied or discharged, or in reduction of a debt or incumbrance in the case of which that sub- section has effect on his death, shall, unless so paid or applied 1[ two years] before the death, be treated as property deemed to be included in the property passing on the death and estate duty shall, notwithstanding anything in section 2[ 26], be payable in respect thereof accordingly.
The provisions of sub- section (2) of section 16 shall have effect for the purpose of this section as they have effect for the purpose of that section.