International Trusts Order, 2000 · As enacted · Part X · Additional Provisions
91. Validation of appointments where objects are excluded or take illusory shares
Official textFrom Attorney General's Chambers, unchanged
No appointment made in exercise of any power to appoint any property among two or more objects shall be invalid on the ground that
property
"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
{a}
an.unsubstantial, illusory or nominal share only is appointed to, or left unappointed to devolve upon, any one or more of the objects of the power; or
{b)
any object of the power is thereby altogether excluded, but every such appointment shall be valid notwithstanding that any one or more of the objects is not thereby, or in default of appointment, to take any share in the property.
This section does not affect any provision in the instrument creating the power that declares the amount of any share from which any object of the power is not to be excluded.
instrument
"instrument" includes a written law and an instrument made under such law;
Terms defined in s 2
instrument
Defined · s 2"instrument" includes a written law and an instrument made under such law;
property
Defined · s 2"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
shares
Defined · s 2"shares" means share in the capital of a company and (where the context so admits) include stock, units, options, warrants depository receipts and rights to acquire shares and in Part XIIA, includes dedicated shares;
Part XI