18 Powers Of Appointment

• 18 (1) For the purpose of the rule against perpetuities, a power of appointment must be treated as a special power, unless

• (a) in the instrument creating the power it is expressed to be exercisable by one person only, and
• (b) it could, at all times during its currency when that person is of full age and capacity, be exercised by that person so as immediately to transfer to that person the whole of the interest governed by the power without the consent of any other person or compliance with any other condition, not being a formal condition relating only to the mode of exercise of the power.

• (2) A power that satisfies the conditions of subsection (1)(a) and (b) must, for the purpose of the rule against perpetuities, be treated as a general power.
• (3) For the purpose of determining whether an appointment made under a power of appointment exercisable by will only is void for remoteness, the power must be treated as a general power if it would have been so treated if exercisable by deed.

1979-321-15.