120(1)  Section 119 does not apply by virtue of paragraph (a) of subsection (1) of that section in any of the following cases (any reference in this section to A or B being taken as a reference to the person referred to as A or B, as the case may be, in that subsection).

120(2)  Case 1 is where B holds the estate or interest as nominee or bare trustee for A.

120(3)  Case 2 is where A is to hold the estate or interest as nominee or bare trustee for B.

120(4)  Case 3 is where B holds the estate or interest as nominee or bare trustee for some other person and A is to hold it as nominee or bare trustee for that other person.

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