This provides for the abolition of the dual system of trusts
for sale and strict settlements. It replaces them with an entirely
new single system.
No settlement created after the commencement of the Act is a settlement for the purposes of the Settled Land Act 1925. And, no settlement can be deemed as made under that Act after that commencement.
It does not affect settlements under the Settled Land Act 1925 existing at the time the Act commenced.
All trusts involving land fall under the new system.
