150. Accumulation required by law.

(v)     Cases in Which Restrictions Have Been Held Inapplicable

150.     Accumulation required by law.

In general, accumulation required by law does not cause any suspension of the enjoyment of the property and is not affected by the statutory restrictions on accumulations1. Where property is immediately given on trusts for any purpose to which no immediate application of the property is possible, there is a duty on the trustees, implied by law, to accumulate the income in the interval; and accordingly an express direction for such accumulation is valid, but is mere surplusage2. Prior to 1 January 1926, it