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Revised Statutes of Newfoundland 1990


CHAPTER P-7

AN ACT RESPECTING PERPETUITIES AND ACCUMULATIONS IN RELATION TO CERTAIN FUNDS ESTABLISHED TO PROVIDE PENSIONS OR OTHER BENEFITS

Analysis

1. Short title

2. Rule as to perpetuities

3. Construction of Act


Short title

1. This Act may be cited as the Perpetuities and Accumulations Act.

RSN1970 c291 s1

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Rule as to perpetuities

2. The rules of law and statutory enactments now or later enacted relating to perpetuities and to accumulations do not apply and shall be considered never to have applied to the trusts of a plan, trust or fund established for the purpose of providing pensions, retirement allowances, annuities, or sickness, death or other benefits to employees or to their surviving spouses, dependants or other beneficiaries.

RSN1970 c291 s2

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Construction of Act

3. This Act shall be interpreted and construed as to effect its general purpose of making uniform the law of those provinces which enact it.

RSN1970 c291 s3

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