(1)  Where under a will or settlement executed before 8th December 1886 an estate for life in registered land is given to a person, followed by an estate for life in remainder to a child of that person and ultimately or immediately by an estate tail in remainder to a grandchild of that person, that person and the child of that person may together, when that child attains the age of 18 years, bar the entail and dispose of the estate as fully and effectually as if the estate given to the child had been instead of an estate for life an estate tail similar to the estate tail given to the grandchild.

(2)  Subsection (1) applies to equitable and legal estates.