5 Accumulations of income
Trusts (Scotland) Act 1961 (1961 c 57) | Legislation

5  Accumulations of income

(1)ÌýÌýÌýÌý The following provisions of this section shall have effect in substitution for the provisions of the Accumulations Act 1800, and that Act is hereby repealed.

(2)ÌýÌýÌýÌý No person may by any will, settlement or other disposition dispose of any property in such manner that the income thereof shall be wholly or partially accumulated for any longer period than one of the following, that is to say—

(a)ÌýÌýÌýÌý the life of the grantor; or

(b)ÌýÌýÌýÌý a term of twenty-one years from the death of the grantor; or

(c)ÌýÌýÌýÌý the duration of the minority

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