7.—(1) Resale right is not assignable.
(2) Any charge on a resale right is void.
(3) Paragraph (1) does not prevent the transfer of a resale right which was transmitted to a qualifying body under regulation 9 (or is deemed to have been so transmitted under regulation 16), provided that the transfer is to another qualifying body.
(4) A qualifying body is a body which—
(a)is a charity within the meaning of section 96(1) of the Charities Act 1993(1) or section 35 of the Charities Act (Northern Ireland) 1964(2);
(b)is a Scottish charity; or
(c)is a foreign charity, and has its central administration in an EEA state or a country listed in Schedule 2.
(5) In paragraph (4)—
(a)“Scottish charity” means—
(i)a body entered in the Scottish Charity Register under section 3 of the Charities and Trustee Investment (Scotland) Act 2005(3); or
(ii)a “recognised body” within the meaning of section 1(7) of the Law Reform (Miscellaneous Provisions)(Scotland) Act 1990(4); and
(b)“foreign charity” means a body which is established outside the United Kingdom for purposes similar to those for which a body within paragraph (4)(a) or (b) may be established, and which is subject to similar rules regarding the distribution and application of its assets.
2005 asp10; section 3 comes into force on such day as the Scottish Ministers may by order appoint.
1990 c. 40; section 1 is amended by paragraph 7(a) of Schedule 4 to the Charities and Trustee Investment (Scotland) Act 2005, which comes into force on such day as the Scottish Ministers may by order appoint.