In 2012, Higgs & Johnson advised you of the introduction of the Rule Against Perpetuities (Abolition) Act, 2011 (the “RAPAA”) which governs dispositions in trusts (whether created before or after the commencement date of the RAPPA i.e., 30th December, 2011) which are governed by the laws of The Bahamas. On May 21st, 2013 Higgs & Johnson appeared on a ground-breaking and successful application by a Trustee for an Order declaring that the RAPAA shall apply to a disposition created before 30th December, 2011 thereby abolishing the application of the applicable rule against perpetuities.
