123. Powers to change nature of interests.

123.     Powers to change nature of interests.

No power can be given to change the nature of the interests limited by the instrument at a time exceeding the limit prescribed by the rule against perpetuities1.

In relation to instruments to which the Perpetuities and Accumulations Act 1964 applies2, or instruments to which the Perpetuities and Accumulations Act 2009 applies3, such a power will, however, be void only in so far as it is not in fact exercised within the perpetuity period4.