Effect of alteration of instruments establishing charity as a body corporate
9.—(1) Where a charity—
(a)is a company or other body corporate; and
(b)has power to alter the instruments establishing or regulating it as a body corporate, no exercise of that power which has the effect of the body ceasing to be a charity shall be valid so as to affect any of the matters set out in paragraph (2).
(2) The matters referred to in paragraph (1) are—
(a)the application of any property acquired under any disposition or agreement previously made otherwise than for full consideration in money or money’s worth;
(b)the application of any property representing property so acquired;
(c)the application of any property representing income which has accrued before the alteration is made;
(d)the application of the income from any such property as is mentioned in sub-paragraph (a), (b) or (c).