Saskatchewan abolishes the Rule Against Perpetuities and the Rule Against Accumulations

The following post is supplied through the courtesy of Doug Surtees (Assistant Professor, College of Law, University of Saskatchewan):

The Province of Saskatchewan, Canada has also abolished the Rules Against Perpetuities and the Rules Against Accumulations (also known as the Thellusson Act).

Saskatchewan’s new Trustee Act, 2009 (effective January 1, 2010) contains the following sections:

PART XI Abolition of Rules Against Perpetuities and Accumulations

Interpretation of Part

57 In this Part and in section 51:

(a) “Accumulations Act” means the Act of Great Britain, being chapter 98 of 39 & 40 George III, known as the Accumulations Act, 1800;

(b) “modern rules against perpetuities” includes the operation of the rule with regard to remoteness of vesting and perpetual duration and with regard to testamentary executory interests in personalty;

(c) “rules against perpetuities” includes:

(i) the modern rules against perpetuities; and

(ii) the rule in Whitby v. Mitchell.

2009, c.T-23.01, s.57.

Rules against perpetuities cease to apply.

8 The rules against perpetuities are no longer the law of Saskatchewan.

2009, c.T-23.01, s.58.

Accumulations Act repealed

59 The Accumulations Act is repealed insofar as it is part of the law of Saskatchewan.

2009, c.T-23.01, s.59.

[Section 60 contains some exceptions where equity requires that the rules still apply]