Trusts and Trustees Act (Cap. 331), article 35

35. (1) Subject to the terms of the trust, the following rules shall apply where a trust, or an interest under a trust, is in favour of a class of persons: (a) a class closes when it is no longer possible for any other person to become a member of a class; (b) a woman who is over the age of fifty-five years shall be deemed to be no longer capable of bearing a child; (c) where any class interest relates to income and for any period there is no member of the class in existence, the income shall be accumulated and, subject to article 12, shall be retained until there is a member of the class in existence or the class closes. (2) In this article "class interest" means a trust or an interest under a trust which is in favour of a class of persons. Variation of terms of trust by the court and approval of particular transactions. Amended by: XI. 2014.7, 17.