Perpetuities and Accumulations

The Perpetuities and Accumulations Act 2009 ("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") received Royal Assent on 12 November. There is currently no date scheduled for commencement of the Act. As mentioned last week (click on: The rule against perpetuities) the changes will have a minimal impact on commercial property, but due consideration will be given in these pages when commencement is imminent.