122Instruments concerning dispositions of land: required statements, etc.
(1)Subsection (2) applies to any of the following instruments—
(a)a contract for the sale, or for a lease or other disposition, of land which is held by or in trust for a charity, and
(b)a conveyance, transfer, lease or other instrument effecting a disposition of such land.
(2)An instrument to which this subsection applies must state—
(a)that the land is held by or in trust for a charity,
(b)whether the charity is an exempt charity and whether the disposition is one falling within section 117(3)(a), (b), (c) or (d), and
(c)if it is not an exempt charity and the disposition is not one falling within section 117(3)(a), (b), (c) or (d), that the land is land to which the restrictions on disposition imposed by sections 117 to 121 apply.
(3)Where any land held by or in trust for a charity is conveyed, transferred, leased or otherwise disposed of by a disposition to which section 117(1) or (2) applies, the charity trustees must certify in the instrument by which the disposition is effected—
(a)(where section 117(1) applies) that the disposition has been sanctioned by an order of the court or of the Commission (as the case may be), or
(b)(where section 117(2) applies) that the charity trustees have power under the trusts of the charity to effect the disposition and have complied with sections 117 to 121 so far as applicable to it.
(4)Where subsection (3) has been complied with in relation to any disposition of land, then in favour of a person who (whether under the disposition or afterwards) acquires an interest in the land for money or money’s worth, it is conclusively presumed that the facts were as stated in the certificate.
(5)Subsection (6) applies where—
(a)any land held by or in trust for a charity is conveyed, transferred, leased or otherwise disposed of by a disposition to which section 117(1) or (2) applies, but
(b)subsection (3) has not been complied with in relation to the disposition.
(6)In favour of a person who (whether under the disposition or afterwards) in good faith acquires an interest in the land for money or money’s worth, the disposition is valid whether or not—
(a)the disposition has been sanctioned by an order of the court or of the Commission, or
(b)the charity trustees have power under the trusts of the charity to effect the disposition and have complied with sections 117 to 121 so far as applicable to it.
(7)Subsection (8) applies to any of the following instruments—
(a)a contract for the sale, or for a lease or other disposition, of land which will, as a result of the disposition, be held by or in trust for a charity, and
(b)a conveyance, transfer, lease or other instrument effecting a disposition of such land.
(8)An instrument to which this subsection applies must state—
(a)that the land will, as a result of the disposition, be held by or in trust for a charity,
(b)whether the charity is an exempt charity, and
(c)if it is not an exempt charity, that the restrictions on disposition imposed by sections 117 to 121 will apply to the land (subject to section 117(3)).
(9)In this section and section 123 references to a disposition of land do not include references to—
(a)a disposition of land by way of mortgage or other security,
(b)any disposition of an advowson, or
(c)any release of a rentcharge falling within section 127(1).