Perpetuities and Accumulations Act 1964
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Change 1
12 Possibilities of reverter, conditions subsequent, exceptions and reservations.
(1) In the case of— (a) a possibility of reverter on the determination of a determinable fee simple, or (b) a possibility of a resulting trust on the determination of any other determinable interest in property, the rule against perpetuities shall apply in relation to the provision causing the interest to be determinable as it would apply if that provision were expressed in the form of a condition subsequent giving rise, on breach thereof, to a right of re-entry or an equivalent right in the case of property other than land, and where the provision falls to be treated as void for remoteness the determinable interest shall become an absolute interest. (2) Where a disposition is subject to any such provision, or to any such condition subsequent, or to any exception or reservation, the disposition shall be treated for the purposes of this Act as including a separate disposition of any rights arising by virtue of the provision, condition subsequent, exception or reservation.
12 Possibilities of reverter, conditions subsequent, exceptions and reservations.
(1) In the case of— (a) a possibility of reverter on the determination of a determinable fee simple, or (b) a possibility of a resulting trust on the determination of any other determinable interest in property, the rule against perpetuities shall apply in relation to the provision causing the interest to be determinable as it would apply if that provision were expressed in the form of a condition subsequent giving rise, on breach thereof, to a right of re-entry or an equivalent right in the case of property other than land, and where the provision falls to be treated as void for remoteness the determinable interest shall become an absolute interest. (2) Where a disposition is subject to any such provision, or to any such condition subsequent, or to any exception or reservation, the disposition shall be treated for the purposes of this Act as including a separate disposition of any rights arising by virtue of the provision, condition subsequent, exception or reservation.
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