23BA. Modification of section 23, etc., where grantee, etc., holds on trust for bare trust beneficiary

In sections 23, 23A and 23B, Article 3A of the First Schedule and Article 2A of the Third Schedule, in the case of an instrument executed on or after 10 May 2022 where the equity interests being conveyed, transferred, assigned or sold —

are (in the case of duty A or duty C) to be held on trust by the grantee, transferee, assignee or purchaser for a bare trust beneficiary; or

were (in the case of duty B or duty D) conveyed to the grantor, transferor, assignor or seller on or after 10 May 2022 to be held on trust by him, her or it for a bare trust beneficiary,then a reference to the grantee, transferee, assignee, purchaser, grantor, transferor, assignor or seller (as the case may be) is to the bare trust beneficiary.