Qualification of restrictions on accumulation. let. 1925, e 20. * 165)
Restriction on accumulation for the pur chase of land. fef. 1925, 6. 20, * 186)
Right to stop accumulations. 1964. c. 35, K. 14.
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(ii) any child or remoter issue of a person taking any interest under any settlement or other disposition directing the accumulations or to whom any interest is thereby limited,
and accordingly such provisions may be made as if no statutory restrictions on accumulation of income had been imposed.
18. Where accumulations of surplus income are made during a minority under any Ordinance or under the general law, the period for which such accumulations are made is not (whether the trust was created or the accumulations were made before or after the commencement of this Ordinance) to be taken into account in determining the periods for which accumulations are permitted to be made by section 17, and accordingly an express trust for accumulation for any other permitted period shall not be deemed to have been invalidated or become invalid, by reason of accumulations also having been made as aforesaid during such minority.
19. No person may settle or dispose of any property in such manner that the income thereof shall be wholly or partially accumulated for the purchase of land only, for any longer period than the duration of the minority or respective minorities of any person or persons who, under the limitations of the instrument directing the accumulation, would for the time being, if of full age, be entitled to the income so directed to be accumulated.
20. Section 7 shall apply to any question as to the right of beneficiaries to put an end to accumulations of income, wilder any disposition as it applies to questions arising on the rule against perpetuities.
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This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly primed copy of the said bill.
Deputy Clerk of Councils.
Consequential amendment. (Cap. 58.)
SUPPLEMENTAL.
21. The Schedule to the Application of English Law Ordin- zace is amended by deleting item 46.
Passed by the Hong Kong Legislative Council this day of March, 1970.
Deputy Clerk of Councils.
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