In the case of a trust where a person other than the settlor is entitled to the entire trust interests or part of beneficiaries is other than the settlor, it shall be regarded as a transfer of entire trust interest by the settlor to the beneficiary and constituted a gift, which is subject to gift tax. 
If in a trust where the settlor is entitled to the entire trust interest or part of beneficiaries was the settlor and subsequently changed to another person other than the settlor, it will be subject to gift tax according to the preceding paragraph at the time the change of beneficiary is effected.
If the settlor adds property to the trust during the life of the trust, thereby resulting in an increase in trust interest to beneficiaries other than the settlor, the increased value of such trust interest will be subject to gift tax according to the first paragraph hereof.