Transfer and revocable transfer defined.
7063. For the purposes of sections 60, 61 and 62 and of this section,
(a) a transfer 71 shall be deemed to be revocable if
(i) it contains any provision for the re-transfer directly or indirectly 72 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 ;
(b) transfer 71 includes any settlement, trust, covenant, agreement or arrangement 71.