Transitional provision3.

(1)

Until such time as section 11(9) of the Charities Act 2006 is brought into force for the purposes of inserting paragraphs (a) and (b) of Note 1 at the end of Schedule 2 to the 1993 Act4, regulation 2 has effect subject to the following modifications.

(2)

The references in regulation 2(1) to an exempt charity or institution which is included in paragraph (a) of Schedule 2 to the 1993 Act are to be treated as references to an exempt charity or institution (as the case may be) which—

(a)

is included in that paragraph of that Schedule; but

(b)

is not—

(i)

an Investment Fund or Deposit Fund within the meaning of the Church Funds Investment Measure 19585; or

(ii)

an investment fund or deposit fund within the meaning of the Methodist Church Funds Act 19606.