SCHEDULE 18CHARITIES RELIEF

Application of this Schedule to certain trusts

I19

1

This Schedule applies to the following trusts as it applies to a charity but subject to the modifications in sub-paragraph (2)—

a

a trust of which all the beneficiaries are charities, or

b

a unit trust scheme in which all the unit holders are charities.

2

The modifications to this Schedule are—

a

the references in paragraph 2(2) to the charitable purposes of C are to have effect as if they were references to those of the beneficiaries or unit holders, or any of them;

b

the references to C in paragraph 2(4), are to have effect as if they were references to any of the beneficiaries or unit holders;

c

the references in paragraphs 5(2)(b) and 8(2)(b) to the charitable purposes of C are to have effect as if they were references to those of the beneficiaries or unit holders, or any of them.