| Act of Parliament | |
 | |
| 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| Text of statute as originally enacted | |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 [1] (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]
