Perpetuities Act 1984

Where property is disposed of in such a manner that the income of the property may be or is directed to be accumulated wholly or in part, the power or direction to accumulate that income is valid if the disposition of the accumulated income is, or may be, valid, but not otherwise.

This section does not affect the power of any person to terminate an accumulation that is for the person’s benefit, or any jurisdiction or power of a court to maintain or advance out of accumulations, or any power of a trustee under the Trustee Act 1925, or under any other Act or law or under any settlement.