29Rule against perpetuities, application of

##### 29. Rule against perpetuities, application of (1) The rule of law known as the rule against perpetuities does not apply and shall be deemed never to have applied so as to render void — (a) a trust or power to sell property, where a trust of the proceeds of sale is valid; or (b) a trust or power to lease or exchange property, where the lease or exchange directed or authorised by the trust or power is ancillary to the carrying out of a valid trust; or (c) any other power that is ancillary to the carrying out of a valid trust or the giving effect to a valid disposition of property; or (d) any provision for the remuneration of trustees. (2) This section does not — (a) render any trustee liable for any acts done prior to the commencement of this Act for which that trustee would not have been liable had this section not been enacted; or (b) enable any person to recover any money distributed or paid under any trust, if he could not have recovered that money had this section not been enacted.