Baxi Partnership Limited Trusts Act 2000

1 Citation and commencement

(1) This Act may be cited as the Baxi Partnership Limited Trusts Act 2000.

(2) This Act shall come into force at the end of the period of three months beginning with the date on which it is passed.

2 Interpretation

(1) In this Act, except as otherwise expressly provided or unless the context otherwise requires—

• “the Company” means Baxi Partnership Limited formerly named Richard Baxendale and Sons Limited, incorporated in England and Wales under the [1929 c. 23.] Companies Act 1929 with registered number 367875;

• “enactment” means any enactment, whether public general or local, and includes any order, rule, regulation, scheme or other instrument having effect by virtue of an enactment;

• “the seven resolutions” means the seven hereinbefore recited resolutions passed on 6th March 1984, 7th March 1984, 9th March 1984, 11th January 1985, 1st July 1988, 21st April 1990 and 25th March 1993;

• “the share sales” means the hereinbefore recited share sales made on 4th June 1985, 14th April 1986, 17th July 1987, 19th July 1988, 17th August 1989, 19th July 1990, 19th July 1991, 16th July 1992, 19th July 1993, 19th July 1994 and 20th September 1994;

• “Trust No. 2” means the deed of settlement dated 7th March 1984 and made between the Company of the one part and Francis Roger Shackleton, Geoffrey Whittle and Philip Stafford Baxendale of the other part;

• “the trustees” means the trustees for the time being of Trust No. 2.

(2) Any reference in this Act to a clause of Trust No. 2 identified by a number shall be construed as a reference to the provisions of the clause of that number contained in Trust No. 2.

3 Validation of trust, resolutions and share sales

Notwithstanding any enactment or rule of law to the contrary, Trust No. 2, each of the seven resolutions and each of the share sales are hereby validated and confirmed and, subject as provided in this Act, shall be deemed as from the respective dates thereof to have had full legal effect according to their terms.

4 Amendment of employee benefit trust of 7th March 1984

(1) The Trust No. 2 deed is hereby amended by the substitution of the clauses set out in the Schedule to this Act for Clauses 1 to 19 in the Trust No. 2 deed.

(2) The Trust No. 2 deed shall continue to be capable of amendment in accordance with the terms thereof as set out in the Schedule to this Act or otherwise under any enactment or rule of law dealing with the variation of trusts.

(3) The Trust No. 2 deed as amended by this Act, or as further amended under the provisions thereof, shall have effect in all respects according to its terms, notwithstanding any rule of law or enactment relating to perpetuities or accumulations.

5 Costs of Act

All costs, charges and expenses preliminary to and of and incidental to the applying for and the preparing, obtaining and passing of this Act shall be paid by the Company or by the trustees out of the trust funds of Trust No. 2 as amended by this Act.