Part 6

Cy-près powers and assistance and supervision of charities by court and Commission

Total return investment

Total return investment: social investments
104AA
1
This section applies to a fund, or a portion of a fund, in respect of which a resolution under section 104A(2) has effect.
2
The charity trustees may resolve that—
a
the fund or portion, and
b
any returns from the investment of the fund or portion,
may be used to make social investments (within the meaning of section 292A) which they could not otherwise make.
3
While a resolution under subsection
(2)
has effect, regulations under section 104B(1)(b) and (ba) apply to—
a
the fund or portion, and
b
any returns from the investment of the fund or portion.
Ss. 104A, 104B inserted (6.4.2013 for specified purposes, 1.1.2014 in so far as not already in force) by Trusts (Capital and Income) Act 2013 (c. 1), ss. 4, 5(3); S.I. 2013/676, art. 3; S.I. 2013/2461, art. 2
S. 104AA inserted (14.6.2023) by Charities Act 2022 (c. 6), ss. 13(2), 41(4); S.I. 2023/643, Sch. para. 5