844. Nominee; bare trustee.

A nominee is not treated for capital gains tax purposes as if he were a separate chargeable person, and property held by him as nominee for another person is treated as if it were vested in that person1. The nominee's acts in relation to the property are treated as the acts of the person for whom he is nominee, all the transactions between him and that person being disregarded accordingly2. The same rule applies in relation to assets held by a person as trustee for another person absolutely entitled3 as against the trustee or for a person who would