Version Superseded: 14/06/2023
Point in time view as at 29/04/2021. This version of this provision has been superseded.
Charities Act 2011, Section 288 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies to any available endowment fund of a special trust which, as the result of a direction under section 12(1), is to be treated as a separate charity (“the relevant charity”) for the purposes of this section and sections 289 to 292.
(2)But this section does not apply to such a fund if sections 289 to 291 (power to spend capital subject to special trusts: larger fund) apply in relation to it.
(3)If the condition in subsection (4) is met in relation to the relevant charity, the charity trustees may resolve for the purposes of this section that the fund, or a portion of it, ought to be freed from the restrictions with respect to expenditure of capital that apply to it.
(4)The condition is that the charity trustees are satisfied that the purposes set out in the trusts to which the fund is subject could be carried out more effectively if the capital of the fund, or the relevant portion of the capital, could be expended as well as income accruing to it, rather than just such income.
(5)Once the charity trustees have passed a resolution under subsection (3), the fund or portion may, by virtue of this section, be expended in carrying out the purposes set out in the trusts to which the fund is subject without regard to the restrictions mentioned in that subsection.
(6)The fund or portion may be so expended as from such date as is specified for this purpose in the resolution.
(7)In this section, “available endowment fund” has the same meaning as in section 281 (power of unincorporated charities to spend capital: general).
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