| Short Title: | Perpetuities and Accumulations Act 2009[1] |
| Parliament: | Parliament of the United Kingdom |
| Long Title: | An Act to amend the law relating to the avoidance of future interests on grounds of remoteness and the law relating to accumulations of income. |
| Year: | 2009 |
| Statute Book Chapter: | 2009 c 18 |
| Territorial Extent: | England and Wales[2] |
| Royal Assent: | 12 November 2009 |
| Original Text: | http://www.legislation.gov.uk/ukpga/2009/18/contents/enacted |
| Legislation History: | http://services.parliament.uk/bills/2008-09/perpetuitiesandaccumulationshl.html |
| Revised Text: | http://www.legislation.gov.uk/ukpga/2009/18/contents |
The Perpetuities and Accumulations Act 2009 (c. 18) is an Act of the Parliament of the United Kingdom that reforms the rule against perpetuities.
The Act resulted from a Law Commission report published in 1998. It abolishes the rule against perpetuities in most non-trust contexts, such as easements. In relation to wills, however, the Act only applies to wills drawn up after 6 April 2010. A will drawn up before 6 April but executed later (upon the death of the testator) will continue to be bound by prior rules.
Sections 22 to 24 came into force on 12 November 2009[3]
Sections 1 to 21 and the Schedule came into force on 6 April 2010.[4]