24.—(1) Where the adult and one or more other persons are beneficially entitled in possession to any capital asset except an interest in land—
(a)unless paragraph (2) applies, each person is to be treated as if each of them were entitled in possession to an equal share of the whole beneficial interest; and
(b)that asset is to be treated as if it were actual capital.
(2) This paragraph applies where the local authority is satisfied that the adult is beneficially entitled in possession to a share which is less than or, as the case may be, more than an equal share of the whole beneficial estate.
(3) Where paragraph (2) applies the adult’s share of the whole beneficial interest will be the actual share (as determined by the local authority) and is to be treated as if it were actual capital.