186Powers of appointment

186 Powers of appointment (1) For the purposes of the rule against perpetuities, a power of appointment is at a particular time to be treated as a special power unless, at that time, the appointor has, by the settlement creating the power, unconditional authority at his or her own discretion to exercise the power by appointing the interest the subject of the power to himself or herself. (2) Notwithstanding subsection (1), an appointment of an interest made by will under a power of appointment that would, but for the fact that it was made exercisable only by will, have been a general power is to be treated as a general power for the purposes of determining whether the appointment of the interest infringes the rule against perpetuities. (3) For the purposes of this section, an authority is unconditional notwithstanding a formal condition relating to the mode of exercise of the power.