New South Wales Consolidated Acts

PERPETUITIES ACT 1984 - SECT 16

16 Trusts for purposes which are not charitable

(1) Except as provided by this section, this Act shall not affect the operation of the rule against perpetual trusts.

(2) Where, by a settlement, there is a disposition for a purpose, the perpetuity period applicable to the disposition shall, for the purposes of the rule against perpetual trusts, be 80 years from the date on which the settlement takes effect.

(3) Where, by a settlement, there is a disposition for a purpose and the disposition would, but for this Act, infringe the rule against perpetual trusts, the disposition shall be treated, until such time (if any) as it becomes certain that the disposition must infringe that rule, as if it did not infringe that rule, and its so becoming certain does not affect the validity of any thing previously done in relation to the disposition.

(4) This section does not apply to a disposition for a purpose which is charitable.