Perpetuities and the maximum duration of trusts
17.1In this chapter we put forward recommendations for reform of the rule against perpetuities, which has the effect of limiting the duration of a trust. This issue was discussed in the Third Issues Paper and Preferred Approach Paper. The topics examined in the chapter are:
- the rule against perpetuities/remoteness of vesting;
- the duration of trusts;
- the rule against accumulations; and
- exemptions to allow perpetual trusts in certain circumstances.