The Charities (Trustee Investments Act 1961) Order 1996

Statutory Instruments

1996 No. 1268

CHARITIES

The Charities (Trustee Investments Act 1961) Order 1996

Made

7th May 1996

Coming into force in accordance with article 1

Whereas a draft of this Order has been approved by both Houses of Parliament:

Now, therefore, the Secretary of State, in exercise of his powers under section 70 of the Charities Act 1993(1) and with the consent of the Treasury, hereby makes the following Order:

1.  This Order may be cited as the Charities (Trustee Investments Act 1961) Order 1996 and shall come into force on the same date as the Trustee Investments (Division of Trust Fund) Order 1996(2).

2.  The Charities (Trustee Investments Act 1961) Order 1995(3) is hereby revoked.

Blatch

Minister of State

Home Office

2nd May 1996

We consent

Simon Burns

Michael Bates

Two of the Lords Commissioners of Her Majesty’s Treasury

7th May 1996

Explanatory Note

(This note is not part of the Order)

This Order, which extends to England and Wales and Scotland, revokes the Charities (Trustee Investments Act 1961) Order 1995. The revoked Order contained a direction that, in the case of charitable trust funds, any division of a fund under section 2(1) of the Trustee Investments Act 1961 (c. 62) should be made so that the value of the wider-range part, instead of being equal to the value of the narrower-range part as required by section 2, was three times that value. The Trustee Investments (Division of Trust Funds) Order 1996 now makes equivalent provision in respect of any division of a trust fund under section 2(1), whether charitable or not. The revoked Order has therefore been superseded.

(1)

1993 c. 10.

(2)

S.I. 1996/845.

(3)

S.I. 1995/1092.