Perpetuities and Accumulations Act 2009
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Change 1
20 Interpretation
(1) For the purposes of this Act this section contains provisions relating to the interpretation of these expressions— (a) power of appointment, general power of appointment and special power of appointment; (b) relevant pension scheme; (c) taking effect (in relation to a will); (d) will. (2) A power of appointment includes— (a) a discretionary power to create a beneficial interest in property without the provision of valuable consideration; (b) a discretionary power to transfer a beneficial interest in property without the provision of valuable consideration. (3) Section 11 applies to interpret references to a general or special power of appointment. (4) Each of these is a relevant pension scheme— (a) an occupational pension scheme; (b) a personal pension scheme; (c) a public service pension scheme. (5) The expressions in subsection (4)(a) to (c) have the meanings given by sections 1 and 181(1) of the Pension Schemes Act 1993 (c. 48). (6) An instrument which is a will takes effect at the testator's death. (7) A reference to a will includes a reference to a codicil.
20 Interpretation
(1) For the purposes of this Act this section contains provisions relating to the interpretation of these expressions— (a) power of appointment, general power of appointment and special power of appointment; (b) relevant pension scheme; (c) taking effect (in relation to a will); (d) will. (2) A power of appointment includes— (a) a discretionary power to create a beneficial interest in property without the provision of valuable consideration; (b) a discretionary power to transfer a beneficial interest in property without the provision of valuable consideration. (3) Section 11 applies to interpret references to a general or special power of appointment. (4) Each of these is a relevant pension scheme— (a) an occupational pension scheme; (b) a personal pension scheme; (c) a public service pension scheme. (5) The expressions in subsection (4)(a) to (c) have the meanings given by sections 1 and 181(1) of the Pension Schemes Act 1993 (c. 48). (6) An instrument which is a will takes effect at the testator's death. (7) A reference to a will includes a reference to a codicil.
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