Charities Act 2011, Section 104A is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies to any available endowment fund of a charity.
(2)If the condition in subsection (3) is met in relation to the charity, the charity trustees may resolve that the fund, or a portion of it—
(a)should be invested without the need to maintain a balance between capital and income returns, and
(b)accordingly, should be freed from the restrictions with respect to expenditure of capital that apply to it.
(3)The condition is that the charity trustees are satisfied that it is in the interests of the charity that regulations under section 104B(1)(b) should apply in place of the restrictions mentioned in subsection (2)(b).
(4)While a resolution under subsection (2) has effect, the regulations apply in place of the restrictions.
(5) In this section “ available endowment fund ”, in relation to a charity, means—
(a)the whole of the charity's permanent endowment if it is all subject to the same trusts, or
(b)any part of its permanent endowment which is subject to any particular trusts that are different from those to which any other part is subject.]
Textual Amendments
F1Ss. 104A, 104B inserted (6.4.2013 for specified purposes, 1.1.2014 in so far as not already in force) by Trusts (Capital and Income) Act 2013 (c. 1), ss. 4, 5(3); S.I. 2013/676, art. 3; S.I. 2013/2461, art. 2
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