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The Charities (Trustee Investments Act 1961) Order 1996
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- UK Statutory Instruments
- 1996 No. 1268
- Explanatory Note
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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 The revoked Order has therefore been superseded.
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