§ 19 — Interests held on trust

19.—(1) Where a material interest in any land is held by a person as a bare trustee, this Act applies as if that interest were vested in, and the acts of the trustee in relation to it were the acts of, the person for whom that person is the trustee.(2) Where the trustees of a settlement are liable to pay land betterment charge, any amount due may be recovered from any one or more of the responsible trustees.

(3) The responsible trustees in relation to a material interest in the land are the persons who were trustees on the day on which chargeable consent is given in relation to the land, and any person who subsequently becomes a trustee.

(4) In this section —“bare trust” means a trust under which property is held by a person as trustee —(a)

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

(b)

for 2 or more persons who are or would be jointly so entitled,

and includes a case in which a person holds property as nominee for another;

“settlement” means a trust which is not a bare trust.

—(1) Where a material interest in any land is held by a person as a bare trustee, this Act applies as if that interest were vested in, and the acts of the trustee in relation to it were the acts of, the person for whom that person is the trustee.

(2) Where the trustees of a settlement are liable to pay land betterment charge, any amount due may be recovered from any one or more of the responsible trustees.

(3) The responsible trustees in relation to a material interest in the land are the persons who were trustees on the day on which chargeable consent is given in relation to the land, and any person who subsequently becomes a trustee.

(4) In this section —“bare trust” means a trust under which property is held by a person as trustee —(a)

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

(b)

for 2 or more persons who are or would be jointly so entitled,

and includes a case in which a person holds property as nominee for another;

“settlement” means a trust which is not a bare trust.