Perpetuities and Accumulations Act 2009

3Power to specify exceptionsE+W

(1)The Lord Chancellor may by order provide that the rule against perpetuities is not to apply—

(a)in cases of a specified description, or

(b)if specified conditions are fulfilled.

(2)Different descriptions and conditions may be specified for different purposes.

(3)Any order under this section may include such supplementary, incidental, consequential or transitional provisions as appear to the Lord Chancellor to be necessary or expedient.

(4)In this section “specified” means specified in the order.

(5)The power to make an order under this section is exercisable by statutory instrument.

(6)A statutory instrument containing an order under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.