1Validation and modification of imperfect trust instruments.N.I.
(1)In this Act, “imperfect trust provision” means any provision declaring the objects for which property is to be held or applied, and so describing those objects that, consistently with the terms of the provision, the property could be used exclusively for charitable purposes, but could nevertheless be used for purposes which are not charitable.
(2)Subject to the following provisions of this Act, any imperfect trust provision contained in an instrument taking effect before the sixteenth day of December, nineteen hundred and fifty-two, shall have, and be deemed to have had, effect in relation to any disposition or covenant to which this Act applies—
(a)as respects the period before the commencement of this Act, as if the whole of the declared objects were charitable; and
(b)as respects the period after that commencement as if the provision had required the property to be held or applied for the declared objects in so far only as they authorise use for charitable purposes.
(3)A document inviting gifts of property to be held or applied for objects declared by the document shall be treated for the purposes of this section as an instrument taking effect when it is first issued.
(4)In this Act, “covenant” includes any agreement, whether under seal or not, and “covenantor” is to be construed accordingly.