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2. In these Regulations—
“the 2005 Act” means the Charities and Trustee Investment (Scotland) Act 2005;
“donor” has the meaning specified in regulation 3;
“gross annual income” means the gross annual income of the charity as shown in the charity’s most recent statement of account;
“large restricted funds” means restricted funds which comprise property of more than £1 million or have a gross annual income of more than £100,000;
“restricted funds” has the meaning given in section 43D of the 2005 Act;
“small restricted funds” means restricted funds which comprise property of £1 million or less and have a gross annual income of £100,000 or less; and
“very small restricted funds” means small restricted funds which do not include any heritable property or shares in a private limited company, and with a gross annual income of less than £1,000.
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Executive Note sets out a brief statement of the purpose of a Scottish Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Scottish Statutory Instrument accessible to readers who are not legally qualified and accompany any Scottish Statutory Instrument or Draft Scottish Statutory Instrument laid before the Scottish Parliament from July 2005 onwards.
Policy Note sets out a brief statement of the purpose of a Scottish Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Scottish Statutory Instrument accessible to readers who are not legally qualified and accompany any Scottish Statutory Instrument or Draft Scottish Statutory Instrument laid before the Scottish Parliament from July 2012 onwards. Prior to this date these type of notes existed as ‘Executive Notes’ and accompanied Scottish Statutory Instruments from July 2005 until July 2012.
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