140. Exception in the case of instruments taking effect on or after 6 April 2010.

As a general rule, the statutory restrictions on the accumulation of income1 do not have effect in relation to an instrument taking effect on or after 6 April 20102. However, the common law rule against perpetuities continues to apply to provisions for the accumulation of income. Further, the statutory restrictions continue to apply in relation to a will executed before 6 April 20103 or in relation to an instrument made in the exercise of a special power of appointment4 if the instrument creating the power takes effect before 6 April 20105.

The statutory restrictions continue to apply in the case