French translation: règles contre les dévolutions perpétuelles
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at the expiration of the trust period the trustees shall stand possessed of the capital of the trust Fund upon such trusts for the benefit of members of the appointed class in sich manner as the Trustees shall pior to or on the date of such expiration in their absolute discretion but without infringing the rule against perpetuities appoint.
régle interdisant les dispositions à titre perpétuel, interdiction de substitutions d'une durée exce
Explanation: The Law Commission reviews the law with a view to its development and reform. (Commission has chairman, 4 other members, appointed by Ld Chancellor from barristers, solicitors and academic lawyers). As far as I can see, the GDT’s suggested trad is closer to the UK’s rule against excessive accumulations (cf. http://www.lawcom.gov.uk/library/lc251/lc251sum.htm) - quoique….
A - Pour comprendre ce que c’est pour un juriste anglais :
2. The rule against perpetuities restricts the extent to which future interests in property can be created by requiring that they take effect within a specified period of time called the perpetuity period. At present there are two possible perpetuity periods—
a life or lives in being plus 21 years; or
a specified period of up to 80 years.
The justification for (the) rules is the need to place some restrictions on how far one generation can control the devolution of property at the expense of generations to follow.
What is wrong with the present law?
5. The law applicable to the operation of both rules is needlessly complicated and can only be understood by specialists. In a number of situations it is uncertain whether or how it applies.
6. The rule against perpetuities was originally devised to deal with interests arising under wills and family settlements, but it now applies to many other types of property rights, including those which often arise in commercial transactions such as options, rights of first refusal and grants of future easements. In these other situations the justification for it is absent. The application of the rule creates considerable practical difficulties in commercial property transactions