The exercise of a special power of appointment takes effect as a selection among the objects1, and as a delegated disposition by the creator of the power. Therefore, by exercising the power, the donee may not create estates or interests which the creator of the power could not himself in like circumstances have created by some other disposition, instead of creating the power2. In other words, while the circumstances in which the appointment is made are considered and taken into account, the perpetuity period is reckoned from the time of creation of the power, that is to say, from
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Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
Source of the doctrine of the separation of powersThe origins of the doctrine are often traced to John Locke’s Second Treatise of Government (1689), in which he identified the 'executive' and 'legislative' powers as needing to be separate.‘… it may be too great a temptation to human frailty, apt to
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