190Wait-and-see

190 Wait-and-see (1) If a provision of a settlement that creates an interest would, but for this section and section 189, infringe the rule against perpetuities, the interest is treated until the time (if any) it becomes certain that it must vest (if at all) after the end of the perpetuity period as if the provision did not infringe the rule and it becoming certain that it does infringe the rule does not affect the validity of a thing previously done in relation to the interest. (2) No limitation in a provision of a settlement that creates a contingent interest is to be treated as or declared to be invalid because it infringes the rule against perpetuities by reason only of there being a possibility of the interest vesting after the end of the perpetuity period. (3) Every contingent interest in a provision of a settlement capable of vesting before or after the end of the perpetuity period is to be presumed valid until events establish that the interest is incapable of vesting: (a) before the end of the perpetuity period, in which case the interest is to be treated as or declared to be void; or (b) after the end of the perpetuity period, in which case the interest is to be treated as or declared to be valid. (4) This section does not affect the operation of section 197.

Law of Property Act 2000 122