The Perpetuities and Accumulations Act 2009 (c. 18) is an Act of the Parliament of the United Kingdom that reforms the rule against perpetuities.
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| Long title | An Act to amend the law relating to the avoidance of future interests on grounds of remoteness and the law relating to accumulations of income. |
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| Citation | 2009 c 18 |
| Territorial extent | England and Wales[2] |
| Dates | |
| Royal assent | 12 November 2009 |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
The Act resulted from a Law Commission report published in 1998.[3] It abolishes the rule against perpetuities in most non-trust contexts, such as easements.[3] In relation to wills, however, the Act only applies to wills drawn up after 6 April 2010. A will drawn up before 6 April but executed later (upon the death of the testator) will continue to be bound by prior rules.[4]
Commencement
editSections 22 to 24 came into force on 12 November 2009[5]
Sections 1 to 21 and the Schedule came into force on 6 April 2010.[6]
See also
editNotes
edit- ^ The citation of this Act by this short title is authorised by section 24 of this Act.
- ^ The Perpetuities and Accumulations Act 2009, section 23
- ^ a b Meadway 2010, p. 240
- ^ Meadway 2010, p. 241
- ^ The Perpetuities and Accumulations Act 2009, section 22(1)
- ^ The Perpetuities and Accumulations Act 2009, section 22(2); the Perpetuities and Accumulations Act 2009 (Commencement) Order 2010 (S.I. 2010/37 (C.6)), article 2
References
edit- Meadway, Susannah (2010). "Perpetuities and Accumulations Act 2009". Trusts & Trustees. 16 (4): 240–246. doi:10.1093/tandt/ttq016.