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The Charities (Trustee Investments Act 1961) Order 1995
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2. It is hereby directed that, in the case of a trust fund consisting of property held by or in trust for a charity(1), any division of the fund in pursuance of section 2(1) of the Trustee Investments Act 1961(2) shall be made so that the value of the wider-range part at the time of the division bears to the then value of the narrower-range part the proportion of three to one.
(1)
By virtue of subsection (5) of section 70 of the Charities Act 1993 and section 11 of the Interpretation Act 1978 (c. 30), the expression “charity”, in the application of this Order to Scotland, means a recognised body within the meaning of section 1(7) of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c. 40).
(2)
1961 c. 62; by virtue of subsection (4) of section 70 of the Charities Act 1993, expressions used in that section which are also used in the Trustee Investments Act 1961 have the same meaning as in that Act.
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