The Charitable Institutions (Fund-Raising) Regulations 1994

Transmission of money and other property to charitable institutions

6.—(1) Any money or other property acquired by a professional fund-raiser or commercial participator for the benefit of, or otherwise falling to be given to or applied by such a person for the benefit of, a charitable institution (including such money or other property as is referred to in section 64(3) of the Charities Act 1992) shall, notwithstanding any inconsistent term in an agreement made for the purposes of section 59 of that Act, be transmitted to that institution in accordance with the following provisions of this regulation.

(2) A professional fund-raiser or commercial participator holding any such money or property as is referred to in paragraph (1) above shall, unless he has a reasonable excuse—

(a) in the case of any money, and any negotiable instrument which is payable to or to the account of the charitable institution, as soon as is reasonably practicable after its receipt and in any event not later than the expiration of 28 days after that receipt or such other period as may be agreed with the institution—

(i) pay it to the person or persons having the general control and management of the administration of the institution; or

(ii) pay it into an account held by a bank or building society in the name of or on behalf of the institution which is under the control of the person, or any of the persons, specified in sub-paragraph (i) above; and

(b) in the case of any other property, deal with it in accordance with any instructions given for that purpose, either generally or in a particular case, by the charitable institution:

Provided that—

(i) any property in the possession of the professional fund-raiser or commercial participator either pending the obtaining of such instructions as are referred to above or in accordance with such instructions shall be securely held by him;

(ii) the proceeds of the sale or other disposal of any property shall, from the time of their receipt by the professional fund-raiser or commercial participator, be subject to the requirements of sub-paragraph (a) above. Fund-raising for charitable etc.