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3.—(1) Until such time as section 11(9) of the Charities Act 2006 is brought into force for the purposes of inserting paragraphs (a) and (b) of Note 1 at the end of Schedule 2 to the 1993 Act(1), regulation 2 has effect subject to the following modifications.
(2) The references in regulation 2(1) to an exempt charity or institution which is included in paragraph (a) of Schedule 2 to the 1993 Act are to be treated as references to an exempt charity or institution (as the case may be) which—
(a)is included in that paragraph of that Schedule; but
(i)an Investment Fund or Deposit Fund within the meaning of the Church Funds Investment Measure 1958(2); or
(ii)an investment fund or deposit fund within the meaning of the Methodist Church Funds Act 1960(3).
Note 1 to Schedule 2 to the Charities Act 1993 was inserted by section 11(9) of the Charities Act 2006.
1958 No 1. The 1958 Measure was amended by the Charities Act 1960 (c.58), Schedule 7; by S.I. 1964/490; by the Government Trading Act 1990 (c.30), Schedule 2; by the Church of England (Miscellaneous Provisions) Measure 1995 (1995 No 2), the Schedule; by the Church of England (Miscellaneous Provisions) Measure 2000 (2000 No 1), section 14; by the Trustee Act 2000 (c.29), Schedule 2, paragraph 52; by the Charities Act 2006, Schedule 8, paragraph 40 (paragraph 40 of Schedule 8 to the 2006 Act is not yet in force).
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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