A ‘bare trust’ is defined as a trust under which property is held by a person as trustee:

for a person absolutely entitled as against the trustee, or who would be so entitled but for being a minor or other person under a disability, or

for two or more persons who are or would be jointly so entitled

A bare trust includes the case in which a person holds property as nominee for another

(Sch. 16, para. 1(2)).

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