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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. |
|---|---|
| Citation | 2009 c 18 |
| Introduced by | Bridget Prentice MP, Parliamentary Under-Secretary of State for Justice (Commons) Lord Bach (Lords) |
| Territorial extent | England and Wales [2] |
| Dates | |
| Royal assent | 12 November 2009 |
Status: Current legislation | |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
The Perpetuities and Accumulations Act 2009 (c. 18) is an Act of the Parliament of the United Kingdom that reforms the rule against perpetuities and the law relating to accumulations of income in trusts.
Contents
The Act resulted from a Law Commission report published in 1998. [3] [4] 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. [5]
