Charities Act 2006

Charities Act 1993 (c. 10)

131 (1) Section 39 (supplementary provisions relating to mortgaging) is amended as follows.

(2) In subsections (2)(a) and (4) for “the Commissioners” substitute “the Commission”.

(3) After subsection (4) insert—

“(4A) Where subsection (3D) of section 38 above applies to any mortgage of land held by or in trust for a charity, the charity trustees shall certify in relation to any transaction falling within that subsection that they have obtained and considered such advice as is mentioned in that subsection.

(4B) Where subsection (4A) above has been complied with in relation to any transaction, then, in favour of a person who (whether under the mortgage or afterwards) has acquired or acquires an interest in the land for money or money’s worth, it shall be conclusively presumed that the facts were as stated in the certificate.”