New South Wales Consolidated Acts

PERPETUITIES ACT 1984 - SECT 8

8 Wait-and-see

(1) Where a provision of a settlement which creates an interest would, but for this section and section 9, infringe the rule against perpetuities, the interest shall be treated, until such time (if any) as it becomes certain that it must vest, if at all, after the end of the perpetuity period, as if the provision did not infringe that rule, and its becoming so certain does not affect the validity of any thing previously done in relation to the interest.

(2) Where a provision of a settlement which creates an interest consisting of the conferring of a general power of appointment would, but for this section and section 9, infringe the rule against perpetuities, the interest shall be treated, until such time (if any) as it becomes certain that the power will not be exercisable within the perpetuity period, as if the provision did not infringe that rule.

(3) Where a provision of a settlement which creates an interest consisting of the conferring of any power or right (except a general power of appointment) would, but for this section and section 9, infringe the rule against perpetuities, the interest shall be treated as regards any exercise of the power or right within the perpetuity period as if the provision did not infringe that rule, and the provisions shall be treated as infringing that rule only if and so far as the power or right is not fully exercised within the perpetuity period.

(4) This section does not affect the operation of section 15.