SCHEDULES

[F1 SCHEDULE 1 E+W ACADEMIES: LAND

Textual Amendments

F1 Sch. 1 substituted (1.2.2012) by Education Act 2011 (c. 21), s. 82(3), Sch. 14 para. 1; S.I. 2012/84, art. 3 (with art. 5)

Part 4 E+W General

Disapplication of rule against perpetuities E+W

19 (1) Where— E+W

(a) land is transferred for no consideration for the purposes of an Academy, and

(b) the person who transferred the land is granted an option to make a re-acquisition of the land (subject to whatever conditions),

the rule against perpetuities does not apply to the option.

(2) Sub-paragraph (1) does not apply to an option granted before 26 July 2002.]