4ATrusts etc.

4A Trusts etc.

(1) Where: (a) the owner of land holds the land in trust for another person; or (b) a person has entered into a contract for the purchase of land or a dwelling‑house to be held in trust for another person; and the Secretary is satisfied that the other person will become the owner of the land or dwelling‑house, the other person shall, for the purposes of this Act other than section 17, be deemed to be the owner of the land or dwelling‑house or to have entered into the contract for the purchase of the land or dwelling‑house, as the case may be. (2) Where: (a) an owner of land who holds the land in trust for another person has entered into a contract for the construction by a building‑contractor of a dwelling‑house on the land; or (b) a person has, at the request of another person, entered into a contract, otherwise than as an agent of the other person, for the construction by a building‑contractor of a dwelling‑house on land owned by the other person; the other person shall, for the purposes of this Act, be deemed to have entered into the contract. (3) Section 19 has effect in relation to paragraphs (a) and (b) of subsection (1) of this section and paragraph (a) of the last preceding subsection as if there were omitted from subsections (1) and (2) of section 19 the words “, otherwise than as a trustee,” (wherever occurring). (4) For the purposes of this Act, where: (a) a person holds any moneys, whether in the form of an investment or otherwise, in trust for another person; and (b) the moneys are not held jointly with other moneys, other than moneys held in trust for the spouse of the other person; the moneys shall be deemed to have been saved by the other person and to be held by the other person in the same form as that in which they are held by the trustee, and any such moneys that have been paid or expended for any purpose by the trustee shall be deemed to have been paid or expended for that purpose by the other person.