187Perpetuity period

187 Perpetuity period (1) For the purposes of the rule against perpetuities but subject to subsection (3), the perpetuity period applicable to an interest created by a settlement is: (a) a life in being plus 21 years; or (b) 80 years from the date on which the settlement takes effect, whichever is specified in the settlement. (2) Subject to subsection (3), if no perpetuity period is specified in the settlement, the perpetuity period is taken to be 80 years from the date on which the settlement takes effect. (3) If an appointment of an interest is made under a special power of appointment, the perpetuity period is reckoned from the date on which the settlement creating the power takes effect. Law of Property Act 2000 120