PERPETUITIES ACT 1984 - SECT 11 Administrative powers of trustees

PERPETUITIES ACT 1984 - SECT 11

11 Administrative powers of trustees

(1) In this section,
"administrative power" means a power of a trustee to sell, lease or exchange trust property and any other power of a trustee, but does not include a power to appoint, pay, transfer, advance, apply, distribute or otherwise deal with trust property in or towards satisfaction of the interest of a beneficiary under the trust or in or towards satisfaction of a purpose of the trust.

(2) The rule against perpetuities does not invalidate an administrative power in relation to trust property during the subsistence of a beneficial interest in the trust property.

(3) This section applies to an administrative power taking effect, and to any exercise of an administrative power, before, on or after the appointed day.