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The Charities (Trustee Investments Act 1961) Order 1995
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- UK Statutory Instruments
- 1995 No. 1092
- Explanatory Note
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Explanatory Note
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This Order, which extends to England and Wales and Scotland, contains a direction by the Secretary of State that, in the case of a trust fund consisting of property held by or in trust for a charity in England and Wales or a recognised body within the meaning of section 1(7) of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c. 40) in Scotland, any division of the fund under section 2(1) of the Trustee Investments Act 1961 is to be made so that the value of the wider-range part of the fund, instead of being equal to the value of the narrower-range part as required by section 2, is three times that value. The Order also provides for the modification of sections 2, 4 and 17 of, and Schedule 2 to, the Trustee Investments Act 1961 in its application to such trust funds in consequence of that direction.
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