Perpetual Funds (Registration) Act, 1933

Power of registrar to delete provisions avoiding the rule against perpetuities.

5.—(1) If the rules of any perpetual fund in respect of which an application for registration is made under this Act contain provisions the sole purpose of which is, in the opinion of the registrar, to avoid the application to the trusts of such fund of the rule of law relating to perpetuities, he may on the application of the trustees of such fund delete such provisions from the rules and make any further amendments therein which are in his opinion proper in consequence of such deletion.

(2) When the rules of any perpetual fund are amended by the registrar under this section, such rules shall, when the fund is registered, have effect subject to the amendments so made.