62. Restriction on executory limitations

Where there is a person entitled to land for an estate in fee or for a term of years, absolute or determinable on life or for a term of life, with an executory limitation over on default or failure of all or any of his issue, whether within or at any specified period or time or not, that executory limitation shall be or become void and incapable of taking effect if and as soon as there is living any issue who has attained the age of 21 years of the class on default or failure whereof the limitation over was to take effect.

This section shall apply only where the executory limitation is contained in an instrument coming into operation on or after 1 August 1886.