s.19Dispositions to which the rule against perpetuities does not apply
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Section 19Part 3 — The disapplication of the rule against perpetuities

Dispositions to which the rule against perpetuities does not apply

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Notwithstanding anything contained in this Act, where —
a disposition is made by an instrument which comes into effect on or after 22nd August, 2024, the date of commencement of the Perpetuities (Amendment) Act, 2024 [Act 7 of 2024]; and
the disposition does not relate to a trust which holds land in the Islands or any interest in land in the Islands,
the instrument by which the disposition is made may by its terms provide that the rule against perpetuities does not apply to that disposition.
Land in the Islands or an interest in land in the Islands shall not be subject, directly or indirectly, to a disposition in respect of which the rule against perpetuities does not apply.
Notwithstanding subsection (2), a disposition in respect of which the rule against perpetuities does not apply may relate to a trust that holds an interest in a company, partnership or other entity which holds land in the Islands, or an interest in that land, for the purposes of its business.
Subject to section 13(1), where an instrument referred to in subsection (1) does not provide that the rule against perpetuities does not apply to a disposition, the rule against perpetuities applies to the disposition.

Cross References