14Trusts etc.

14 Trusts etc.

(1) Where: (a) the owner of land holds the land in trust for another person or other persons; 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 or other persons; and the Secretary is satisfied that the other person or other persons will become the owner or owners of the land or dwelling‑house, the other person or other persons shall, for the purposes of this Act, other than sections 25 and 26, be deemed to be the owner or owners 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 or other persons 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 or other persons, entered into a contract, otherwise than as an agent of the other person or other persons, for the construction by a building‑contractor of a dwelling‑house on land owned by the other person or other persons; the other person or other persons, as the case may be, shall, for the purposes of this Act, be deemed to have entered into the contract. (3) Section 11 has effect in relation to paragraphs (1)(a) and (b) and (2)(a) of this section as if there were omitted from subsections 11(1) and (2) the words, “otherwise than as a trustee or trustees”, (wherever occurring). (4) For the purposes of this Act, where, on any date: (a) a person holds any moneys in trust for another person or other persons (in this subsection referred to as the relevant person or relevant persons); and (b) the moneys are not held jointly with other moneys, other than moneys held in trust for a person who, on that date, is the spouse of the relevant person or of any of the relevant persons; the moneys shall be deemed to be held by the relevant person or relevant persons 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 relevant person or relevant persons.