[F169 Rule against perpetuities.U.K.
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(7)There shall cease to have effect—
(a)the M1Superannuation and other Trust Funds (Validation) Act 1927 (power to register superannuation schemes, with consequent exemption from the rule against perpetuities), except section 9 and section 11 so far as it provides for citation and extends section 9 to Northern Ireland; and
(b)the corresponding Northern Ireland enactment, that is to say the M2Superannuation and other Trust Funds (Validation) Act (Northern Ireland) 1928;
[F2but regulations may provide, in relation to a scheme whose fund was registered under either Act immediately before its repeal took effect, for the scheme to retain the benefit of the Act, subject to prescribed conditions and either indefinitely or for a prescribed period.]
(8)The said Acts of 1927 and 1928 shall each, until its repeal by subsection (7) above, have effect with the following modifications—
(a)no new application shall be made under section 3 of the Act for the registration of any fund (without prejudice to the effectiveness of any application previously made or pending); and
(b)the registration of a fund may be cancelled notwithstanding that the fund has not been wound up, if the trustees apply in writing to the registrar stating that they desire its cancellation.]
Textual Amendments
F1S. 69 repealed (N.I.), except so far as it relates to so much of the Superannuation and other Trust Funds (Validation) Act 1927 (c. 41) as extends to Northern Ireland, by S.I. 1975/1503 (N.I. 15), art. 74(2), Sch. 6
F2S. 69(1)-(6) repealed (7.2.1994) by 1993 c. 48, s. 188, Sch. 5 Pt.I (with s. 6(8)); S.I. 1994/86, art. 2
Words in s. 69(7) repealed (E.W.S.) (7.2.1994) by 1993 c. 48, s. 188, Sch. 5 Pt.III (with s. 6(8)); S.I. 1994/86, art. 2
Modifications etc. (not altering text)
C1Section 69(7) has not yet commenced.
Marginal Citations