7N.I.The change, by virtue of section 1 of this Act, in the construction of section 1 of the Accumulations Act 1892 [1892 c.58] (which lays down the permissible period for the accumulation of income for the purchase of land under settlements and other dispositions) shall not invalidate any direction for accumulation in a settlement or other disposition made by a deed, will or other instrument which was made before the commencement date.