311Effect of registering charity merger on gifts to transferorE+W
(1)This section applies where a relevant charity merger is registered in the register of charity mergers.
(2)Any gift which—
(a)is expressed as a gift to the transferor, and
(b)takes effect on or after the date of registration of the merger,
takes effect as a gift to the transferee, unless it is an excluded gift.
(3)A gift is an excluded gift if—
(a)the transferor is a charity within section 306(2), and
(b)the gift is intended to be held subject to the trusts on which the whole or part of the charity's permanent endowment is held.