Perpetuities and Accumulations Act 2009

15 Application of this Act

(1) Sections 1, 2, 4 to 11, 13 and 14 apply in relation to an instrument taking effect on or after the commencement day, except that—

(a) those sections do not apply in relation to a will executed before that day, and

(b) those sections apply in relation to an instrument made in the exercise of a special power of appointment only if the instrument creating the power takes effect on or after that day.

(2) Section 12 applies (except as provided by subsection (3)) in relation to—

(a) a will executed before the commencement day (whether or not it takes effect before that day);

(b) an instrument, other than a will, taking effect before that day.

(3) Section 12 does not apply if—

(a) the terms of the trust were exhausted before the commencement day, or

(b) before that day the property became held on trust for charitable purposes by way of a final disposition of the property.

(4) The commencement day is the day appointed under section 22(2).