4E+WAny person who, immediately after the commencement of this Act, is entitled to an equitable interest capable of subsisting as a legal estate which has priority over any legal estate in the same land, shall be deemed to be entitled for the foregoing purposes to require a legal estate to be vested in him for an interest of a like nature not exceeding in extent or duration the equitable interest:
Provided that this paragraph shall not—
(a)apply where the equitable interest is capable of being over-reached by virtue of a subsisting trust for sale or a settlement;
(b)operate to prevent such person from acquiring any other legal estate under this Part of this Schedule to which he may be entitled.