TRUST FUND INCOMES
Restriction To Be Repealed /.V Z. Press Association) WELLINGTON, Sept. 29. The law against accumulations, restricting directions for the accumulation of the income of a trust fund to various periods, frequently 21 years or less, will be repealed. Another technical legal rule, against perpetuities, designed to restrict “deadhand" property control and to balance the wishes of the present generation with the wishes of a future generation to do what they wish with property, will be substantially modified. These moves are embodied in a complex 22-clause Perpetuities Bill, introduced in Parliament today.
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Bibliographic details
Press, Volume CIII, Issue 30559, 30 September 1964, Page 18
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94TRUST FUND INCOMES Press, Volume CIII, Issue 30559, 30 September 1964, Page 18
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