Charities Act (Northern Ireland) 2008

Trustees

94.—(1) The Trustee Act (Northern Ireland) 2001 (c. 14) shall be amended as follows.

(2) In section 17 (power to appoint custodians), after subsection (3) add—

“(4) This section does not apply in relation to any assets vested in the official custodian for charities.”.

(3) In section 18 (investment in bearer securities), after subsection (3) add—

“(4) This section does not apply in relation to any assets vested in the official custodian for charities.”.

(4) For section 41 (common investment schemes) substitute—

“41.    Common investment schemes for charities, etc.

Parts 2 to 4 do not apply to—

(a) trustees managing a fund under a common investment scheme made, or having effect as if made, under section 43 of the Charities Act (Northern Ireland) 2008, other than such a fund the trusts of which provide that property is not to be transferred to the fund except by or on behalf of a charity the trustees of which are trustees appointed to manage the fund, or

(b) trustees managing a fund under a common deposit scheme made, or having effect as if made under section 44 of that Act.”.