1036. Pre-1978 protective trusts, pre-1981 trusts for disabled persons and self-settlement by disabled persons.

Special provisions apply to:

  1.  

    (1)     settled property which is held on trusts to the like effect as discretionary trusts for a class of beneficiaries which includes the principal beneficiary of a protective trust whose interest has been forfeited by alienation or bankruptcy1 and which became held on those trusts on failure or determination before 12 April 1978 of trusts to the like effect as those where income is held on protective trusts for the benefit of any person ('the principal beneficiary') for life or any lesser period, unless or until he does or attempts to do or suffers any