Any trust or direction which simply keeps the property up to its present value is not subject to the statutory restrictions on accumulations1. Trusts2 to effect out of income improvements coming generally under the heading of maintaining houses and tenements in good habitable repair3, or to keep up a policy for the replacement, at the end of the term for which leaseholds are held, of the capital lost by not selling them
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Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical completion also typically marks the start of the defects liability period/maintenance period.As explained below, practical completion is an
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