The Perpetuities and Accumulations Act 1964 was a landmark in the history of perpetuities and accumulations. It did not abolish the common law rule against perpetuities but rather was designed to supplement it. At the heart of the Act is the principle of 'wait and see' under which the validity of a disposition is tested by reference to actual as opposed to possible events1. As this principle is applicable only in respect of dispositions which would have been void prior to 16 July 1964, the commencement date of the Act, and as the Act, with one exception
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