48. Interests in foreign property.

(3)     Interests to Which the Rule Does not Apply

(i)     Particular Interests Excepted from the Rule

48.     Interests in foreign property.

The rule against perpetuities does not apply to immovable estate in Scotland or foreign countries, or to funds bequeathed on trust to invest them in the purchase of immovable estates in Scotland or abroad, limited or to be settled in a manner valid by the law of the place where they are situated, although invalid by English law1.