Part 16Charity mergers
Vesting declarations and effect of merger on certain gifts
311Effect of registering charity merger on gifts to transferor
(1)
This section applies where a relevant charity merger is registered in the register of charity mergers.
F1(2)
Subsection (2A) applies to a gift, other than an excluded gift, if—
(a)
the gift would have taken effect as a gift to the transferor if the transferor had been in existence, and
(b)
the date on which the gift would have taken effect is a date on or after the date of the registration of the merger.
(2A)
The gift takes effect as a gift to the transferee.
(3)
A gift is an excluded gift if—
(a)
the transferor is a charity within section 306(2), and
(b)
the gift is intended to be held subject to the trusts on which the whole or part of the charity's permanent endowment is held.