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Charities Act 2011

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[F1292AMeaning of “social investment”E+W+S+N.I.

(1)This section applies for the purposes of this Part.

(2)A social investment is made when a relevant act of a charity is carried out with a view to both—

(a)directly furthering the charity's purposes; and

(b)achieving a financial return for the charity.

(3)References to an act of a charity are, in the case of an unincorporated charity, to an act of the charity trustees.

(4)A relevant act of a charity is—

(a)an application or use of funds or other property; or

(b)taking on a commitment in relation to a liability of another person (such as a guarantee) that puts the charity's funds or other property at risk of being applied or used.

(5)An act mentioned in subsection (4)(a) is to be regarded as achieving a financial return if its outcome is better for the charity in financial terms than expending the whole of the funds or other property in question.

(6)A commitment mentioned in subsection (4)(b) is to be regarded as achieving a financial return if—

(a)it is not called upon; or

(b)it is called upon without resulting in the expenditure of the whole of the funds or other property put at risk.

(7)The fact that a relevant act may also have results other than those mentioned in subsection (2)(a) and (b) does not prevent the carrying out of that act being regarded as the making of a social investment.

(8)The fact that carrying out a relevant act of a charity is regarded as the making of a social investment for the purposes of this Part does not of itself make the act an investment for any other purpose.]

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