59. Trusts determinable by beneficiaries having vested interests.

A trust is determinable by beneficiaries, apart from disabilities on their part1, when all the beneficial interests become vested2. Accordingly a trust which is necessarily so determinable within the perpetuity period is not obnoxious to the rule on the ground that it may continue for an indefinite period3. A trust for accumulation for the benefit of a person whose interest is vested is such a trust4.

The contingency on which the trust arises must, however, be such as will necessarily occur within the perpetuity period