Western Australian Current Acts Western Australian Current Acts (1) A limitation shall
not be declared or treated as invalid, as infringing the rule against
perpetuities, unless and until it is certain that the interest that it creates
cannot vest within the perpetuity period or, if the limitation creates or
confers a general power of appointment over or in connection with property,
that the power cannot become exercisable within the perpetuity period, but if
the power becomes exercisable, within that period, it is valid.
(2) Where a limitation
creates a power exercisable over or in connection with any property, whether
that power be a special power of appointment, or a power of advancement or of
distribution under a discretionary trust, or any other power (not being a
general power of appointment or a power that is exempted from the application
of the rule against perpetuities by section 29 of the Trustees Act 1962 ),
that limitation is valid, so far as the rule against perpetuities is concerned
—
(a) if
the power is exercisable only during the perpetuity period; or
(b) if
and to the extent that the power is exercised during the perpetuity period.
(3) Nothing in this
section makes any person a life in being for the purpose of ascertaining the
perpetuity period unless that person would have been reckoned a life in being
for that purpose if this section had not been enacted.