In English land law it reformed the rule against perpetuities.

The Act includes the establishment of a defined perpetuity period, which set a limit on how long future interests could be held in abeyance.

The reforms introduced a statutory limitation on how long income could be accumulated before it must be distributed.

In 2009, many of the Act's principles were further reformed by the Perpetuities and Accumulations Act 2009, which introduced a single, simplified perpetuity period of 125 years, replacing the earlier rules.

You can help Wikipedia by expanding it.This legislation in the United Kingdom, or its constituent jurisdictions, article is a stub.