BILL NO. 108

(as introduced)

3rd Session, 61st General Assembly
Nova Scotia
60 Elizabeth II, 2011



Government Bill



Perpetuities Act



The Honourable Ross Landry
Minister of Justice



First Reading: November 21, 2011

Second Reading: November 25, 2011

Third Reading: December 8, 2011 (LINK TO BILL AS PASSED)

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An Act to Abolish the Rules of Law
against Perpetuities and to Amend Chapter 385
of the Revised Statutes, 1989,
the Real Property Act, and
Chapter 486 of the Revised Statutes, 1989,
the Variation of Trusts Act

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Perpetuities Act.

2 In this Act,

(a) "modern rule against perpetuities" includes the operation of the rule respecting remoteness of vesting and perpetual duration and respecting testamentary executory interests in personal property;

(b) "rules of law against perpetuities" means

3 The rules of law against perpetuities are abolished.

4 (1) Subject to subsection (2), this Act applies to

(a) all interests in property created before, on or after the coming into force of this Act; and

(b) all trusts, whether taking effect before, on or after the coming into force of this Act.

(2) The rules of law against perpetuities continue to apply to an interest or purported interest in property if, before the coming into force of this Act,

(a) the period permitted for the vesting of the interest or purported interest has terminated and any act or step has been taken as a consequence of that termination; or

(b) a court has held the interest or purported interest to be void for breach of the rules of law against perpetuities.

5 Chapter 385 of the Revised Statutes, 1989, the Real Property Act, is amended by adding immediately after Section 28 the following heading and Section:

VARIATION OR TERMINATION OF INTERESTS IN REAL PROPERTY

6 Sections 2 and 3 of Chapter 486 of the Revised Statutes, 1989, the Variation of Trusts Act, are repealed and the following Sections substituted:

7 This Act comes into force on such day as the Governor in Council orders and declares by proclamation.

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