Where the Perpetuities and Accumulations Act 1964 applies1, it provides its own rules as to the duration of the perpetuity period. In certain situations the period is a fixed number of years2, but otherwise it is determined by reference to the duration of a life or lives in being stipulated by the Act3.
Except for a disposition4 which purports to confer an option to acquire for valuable consideration any interest in land5, or the exercise of a special power of appointment6, where the instrument by which any disposition is made so provides, the perpetuity period applicable to the disposition under
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Dividends involve a distribution of cash or a distribution of non-cash assets (known as a distribution in kind or a distribution in specie).A scrip dividend (in a tax context, sometimes referred to as a stock dividend) allows a shareholder to receive new shares in a company as an alternative to a
Codicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more
BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on the impact of Brexit on e-money requirements, see Practice Note: Impact of Brexit: Payment services and electronic money directives—quick
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
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