This Act: limits the application of the rule against perpetuities also in relation to lands; codifies the rule as it applies to charities; and amends the law relating to accumulations of income. “The rule against perpetuities”: (a) means the rule of law by that name, also known as the rule against remoteness of vesting, which restricts the time within which future interests in property must either vest or take effect, or within which certain powers may be exercisable; and (b) includes any other rule of law which limits the period during which income may be accumulated or for which capital may remain unexpended or inalienable.
Bermudas (RU) · 2009-06-19