14Administrative powers of trustees

14 Administrative powers of trustees

(1)  The rule against perpetuities –

(a) does not operate, and is taken never to have operated, to invalidate a power conferred on trustees or other persons to sell, lease, exchange or otherwise dispose of any property for full consideration, or to do any other act in the administration of any property; and

(b) does not prevent, and is taken never to have prevented, the payment to trustees or other persons of reasonable remuneration for their services.

(2)  Subsection (1) does not –

(a) render any trustee or other person liable for any acts done before the commencement of this Act for which the trustee or person would not have been liable if this Act had not been passed; or

(b) enable any trustee or person to recover any money distributed or paid under any trust if the trustee or person could not have recovered that money apart from that subsection.

(3)  For the purposes of subsection (1) , the administration of trust property is taken not to include a power to appoint, pay, transfer, advance, apply, distribute or otherwise deal with trust property in or towards satisfaction of –

(a) the interest of a beneficiary under the trust; or

(b) a purpose of the trust.