Related Commentary  

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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