Summary and Background
4.The Act, subject to minor modifications, gives effect to the recommendations set out in the Law Commission’s 1998 report The Rules Against Perpetuities and Excessive Accumulations (Law Com. 251) HC 579. The Act modifies the operation of two legal rules known as the rule against perpetuities and the rule against excessive accumulations. The rules are most commonly encountered in the context of trusts. The two rules are distinct but related.