19In this schedule, a “bare trust”—
(a)is a trust under which the property is held by a person as trustee—
(i)for a person who is absolutely entitled as against the trustee, or who would be so entitled but for being under a legal disability by reason of non-age or under another disability, or
(ii)for two or more persons who are or would be jointly so entitled, and
(b)includes a case in which a person holds property as a nominee for another.