Parts II to IV do not apply to—
(a)trustees managing a fund under a common investment scheme made, or having effect as if made, under [F1section 96 of the Charities Act 2011], other than such a fund the trusts of which provide that property is not to be transferred to the fund except by or on behalf of a charity the trustees of which are the trustees appointed to manage the fund, or
(b)trustees managing a fund under a common deposit scheme made, or having effect as if made, under [F2section 100] of that Act.
Textual Amendments
F1Words in s. 38(a) substituted (14.3.2012) by Charities Act 2011 (c. 25), s. 355, Sch. 7 para. 89(a) (with s. 20(2), Sch. 8)
F2Words in s. 38(b) substituted (14.3.2012) by Charities Act 2011 (c. 25), s. 355, Sch. 7 para. 89(b) (with s. 20(2), Sch. 8)