Application of rule against perpetuities
I13Power to specify exceptions
1
The Lord Chancellor may by order provide that the rule against perpetuities is not to apply—
a
in cases of a specified description, or
b
if specified conditions are fulfilled.
2
Different descriptions and conditions may be specified for different purposes.
3
Any order under this section may include such supplementary, incidental, consequential or transitional provisions as appear to the Lord Chancellor to be necessary or expedient.
4
In this section “specified” means specified in the order.
5
The power to make an order under this section is exercisable by statutory instrument.
6
A statutory instrument containing an order under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.