Validation provisions for period preceding former commencement day

In force

(1)

In this section —

former eligible recipient means an eligible recipient as defined in the Charitable Trusts Act 1962 section 22A.

(2)

The provision, before former commencement day, by the trustees of a prescribed trust of property or benefits to or for a former eligible recipient or for the establishment of a former eligible recipient —

(a)

is taken to be, and always to have been, a provision for an authorised and valid purpose of the prescribed trust; and

(b)

does not affect, and is taken never to have affected, the status of the prescribed trust as a charitable trust.

(3)

Subsection (2) applies despite a failure by the trustees of a prescribed trust to do any of the following —

(a)

make a declaration under the Charitable Trusts Act 1962 section 22C(3);

(b)

adhere to a limitation applicable in relation to the prescribed trust under the Charitable Trusts Act 1962 section 22C(4) and (5);

(c)

comply with the Charitable Trusts Act 1962 section 22C(6).

(4)

The inclusion of a former prescribed power in the trust instrument of a prescribed trust before former commencement day is taken to be, and always to have been, valid.

This Act’s bill:Explanatory memorandum Second reading speech

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52 Validation provisions for period preceding former commencement day