Perpetuities and Accumulations Act 2009
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Change 1
6 Start of perpetuity period
(1) The perpetuity period starts when the instrument referred to in section 1(2) to (6) takes effect; but this is subject to subsections (2) and (3). (2) If section 1(2), (3) or (4) applies and the instrument is made in the exercise of a special power of appointment the perpetuity period starts when the instrument creating the power takes effect; but this is subject to subsection (3). (3) If section 1(2), (3) or (4) applies and— (a) the instrument nominates benefits under a relevant pension scheme, or (b) the instrument is made in the exercise of a power of advancement arising under a relevant pension scheme, the perpetuity period starts when the member concerned became a member of the scheme. (4) The member concerned is the member in respect of whose interest in the scheme the instrument is made.
6 Start of perpetuity period
(1) The perpetuity period starts when the instrument referred to in section 1(2) to (6) takes effect; but this is subject to subsections (2) and (3). (2) If section 1(2), (3) or (4) applies and the instrument is made in the exercise of a special power of appointment the perpetuity period starts when the instrument creating the power takes effect; but this is subject to subsection (3). (3) If section 1(2), (3) or (4) applies and— (a) the instrument nominates benefits under a relevant pension scheme, or (b) the instrument is made in the exercise of a power of advancement arising under a relevant pension scheme, the perpetuity period starts when the member concerned became a member of the scheme. (4) The member concerned is the member in respect of whose interest in the scheme the instrument is made.
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