PERPETUITIES ACT 1984 - SECT 15 Options

PERPETUITIES ACT 1984 - SECT 15

15 Options

The rule against perpetuities does not apply to:

(a) any option to renew a lease of property,

(b) any option to acquire a reversionary interest in property comprised in a lease,

(c) any right of pre-emption given for valuable consideration or by will in respect of property, or

(d) any other option given for valuable consideration or by will to acquire an interest in property.