Section 4 Power on registration of funds to delete provisions for avoiding the rule against perpetuities.C1

If upon an application for the registration under this Act of any fund whereof the rules were made before the commencement of this Act, the F1Authority is satisfied that the rules of the fund contain provisions which were inserted only for the purpose of avoiding the application to the trusts of the fund of the rule of law relating to perpetuities, it may, at the request of the trustees making the application, amend the rules by deleting those provisions therefrom and may, upon the like request, make any further amendments that are, in its opinion, proper in consequence of their deletion.

Where the rules of any fund are amended by the Authority under this section, the rules shall, when registered, have effect subject to the amendments so made.