Perpetuities and Accumulations Act 1964

Perpetuities and Accumulations Act 1964

Act of Parliament
Parliament of the United Kingdom
Long title	An Act to modify the law of England and Wales relating to the avoidance of future interests in property on grounds of remoteness and governing accumulations of income from property.
Citation	1964 c. 55
Territorial extent	England and Wales
Dates
Royal assent	16 July 1964
Status: Amended
Text of statute as originally enacted
Text of the Perpetuities and Accumulations Act 1964 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk.

The Perpetuities and Accumulations Act 1964 (c. 55) is an act of the Parliament of the United Kingdom. In English land law it reformed the rule against perpetuities.

Overview

The Act includes the establishment of a defined perpetuity period, which set a limit on how long future interests could be held in abeyance. This period was generally 80 years from the date of creation of the interest, although specific conditions could extend this period under certain circumstances. It also addressed the rule against excessive accumulations of income, which previously allowed for income to be accumulated indefinitely under certain trust provisions. The reforms introduced a statutory limitation on how long income could be accumulated before it must be distributed. In 2009, many of the Act's principles were further reformed by the Perpetuities and Accumulations Act 2009, which introduced a single, simplified perpetuity period of 125 years, replacing the earlier rules.

See also

• Perpetuities and Accumulations Act 2009

External links

• Text of the Perpetuities and Accumulations Act 1964 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk.