http://www.legislation.gov.uk/nia/2008/12/section/44Charities Act (Northern Ireland) 2008An Act to provide for the establishment and functions of the Charity Commission for Northern Ireland and the Charity Tribunal for Northern Ireland; to make provision about the law of charities, including provision about charitable incorporated organisations; to make further provision about public charitable collections and other fund-raising carried on in connection with charities and other institutions; and for connected purposes.texttext/xmlenStatute Law Database2026-01-29Expert Participation2022-03-30 PART 6 441The Court or the Commission may by order make and bring into effect schemes (in this section referred to as “common deposit schemes”) for the establishment of common deposit funds under trusts which provide—afor sums to be deposited by or on behalf of a charity participating in the scheme and invested under the control of trustees appointed to manage the fund; andbfor any such charity to be entitled (subject to the provisions of the scheme) to repayment of any sums so deposited and to interest thereon at a rate determined under the scheme.2Subject to subsection (3), the following provisions of section 43, namely—asubsections (2), (3) and (6), andbsubsections (8) to (11),shall have effect in relation to common deposit schemes and common deposit funds as they have effect in relation to common investment schemes and common investment funds.3In its application in accordance with subsection (2), subsection (6) of section 43 shall have effect with the substitution for paragraphs (b) and (c) of the following paragraphs—bfor regulating as to time, amount or otherwise the right to repayment of sums deposited in the fund;cfor authorising a part of the income for any year to be credited to a reserve account maintained for the purpose of counteracting any losses accruing to the fund, and generally for regulating the manner in which the rate of interest on deposits is to be determined from time to time;.4A common deposit scheme may provide for appropriate bodies to be admitted to participate in the scheme (in addition to the participating charities) to such extent as the trustees appointed to manage the fund may determine.5In this section “appropriate body” means—aa Scottish recognised body, orban England and Wales charity,and, in the application of the relevant provisions in relation to a scheme which contains provisions authorised by subsection (4), “charity” includes an appropriate body.6“The relevant provisions” are—asubsection (1), andbsubsections (6) and (8) of section 43, as they apply in accordance with subsections (2) and (3), andc(in relation only to a charity within subsection (5)(b)) subsection (9) of that section, as it so applies.