2Dispositions and covenants to which the Act applies.N.I.
(1)Subject to the next following sub-section, this Act applies to any disposition of property to be held or applied for objects declared by an imperfect trust provision, and to any covenant to make such a disposition, where apart from this Act the disposition or covenant is invalid, but would be valid if the objects were exclusively charitable.
(2)This Act does not apply to a disposition if before the sixteenth day of December, nineteen hundred and fifty-two, property comprised in, or representing that comprised in, the disposition in question or another disposition made for the objects declared by the same imperfect trust provision, or income arising from any such property, has been paid or conveyed to, or applied for the benefit of, the persons entitled by reason of the invalidity of the disposition in question or of such other disposition as aforesaid, as the case may be.
(3)A disposition in settlement or other disposition creating more than one interest in the same property shall be treated for the purposes of this Act as a separate disposition in relation to each of the interests created.