Land which has been subject to a settlement shall be deemed for the purposes of this Act to remain and be settled land, and the settlement shall be deemed to be a subsisting settlement for the purposes of this Act so long as—
(a)any limitation, charge, or power of charging under the settlement subsists, or is capable of being exercised; or
(b)the person who, if of full age, would be entitled as beneficial owner to have that land vested in him for a legal estate is an infant.