Section Sch1-3 — Trusts Act 2019: Duration of trusts created before commencement date

3 Duration of trusts created before commencement date (1) Despite section 16 ,— (a) a trust created before the commencement date continues until the date (if any) specified in the terms of the trust as being the date on which the trust property will be finally distributed; but (b) that final distribution date may, on or after the commencement date and in accordance with section 122 or 124 or in any way permitted in the terms of the trust, be extended so that the trust has a maximum total duration of 125 years. (2) However, if a trust created before the commencement date does not specify a final distribution date or duration but specifies or implies a mechanism for, or means of, determining the final distribution date, section 16(4) applies to that trust. (3) A trust to which, before the commencement date, the rule against perpetuities did not apply is not affected by section 16(1) and continues indefinitely or in accordance with any enactment or common law rules governing its duration.