C HAPTER 5 10 D URATION OF TRUST 1 41 Abolition of restrictions on accumulation and on creation of future interests (1) Subject to any rule of law, a trust may be constituted of whatever duration the truster elects. (2) The following (which relate to restrictions on the accumulation of income) are repealed 15 in relation to a trust— (a) the Accumulations Act 1892, (b) section 5 of the Trusts (Scotland) Act 1961, and (c) section 6 of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1966. (3) The following (which relate to restrictions on the creation of future interests) are repealed 20 in relation to a trust— (a) sections 47 to 49 of the Entail Amendment Act 1848, (b) section 45 of the Conveyancing (Scotland) Act 1924, and (c) section 18 of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1968. (4) The following rules of law do not apply in relation to a trust— 25 (a) the rule known as the rule in Frog’s Creditors (which provides that a conveyance to a non-existent or unascertainable person, with the grant of a liferent to a living...