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Perpetuities and Accumulations Act 1964
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13Amendment of s. 164 of Law of Property Act 1925
(1)The periods for which accumulations of income under a settlement or other disposition are permitted by section 164 of the Law of Property Act 1925 shall include—
(a)a term of twenty-one years from the date of the making of the disposition, and
(b)the duration of the minority or respective minorities of any person or persons in being at that date.
(2)It is hereby declared that the restrictions imposed by the said section 164 apply in relation to a power to accumulate income whether or not there is a duty to exercise that power, and that they apply whether or not the power to accumulate extends to income produced by the investment of income previously accumulated.
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