This Order commences those provisions of the Trusts (Capital and Income) Act 2013 which did not come into force upon the day on which that Act was passed, with the exception of section 4 (which is only partially commenced).

Article 3 provides for section 4 to come into force on the 6th April 2013 for the purpose only of enabling the Charity Commission to exercise the power to make regulations relating to total return investment by charities under section 104B of the Charities Act 2011, inserted by section 4.

Article 4 provides for the following provisions to come into force on the 1st October 2013:

Section 1, which disapplies specified statutory and equitable rules of apportionment for new trusts (being those which are created or arise on or after the coming into force date of that section) subject to any contrary intention appearing in the trust instrument or the power under which the trust was created or arises;

Section 2, which classifies certain tax-exempt corporate distributions as capital in relation to all trusts, subject to any contrary intention appearing in the trust instrument or the power under which the trust was created or arises;

Section 3, which provides for a power to compensate an income beneficiary in certain circumstances where the trustees are satisfied that it is likely, had the distribution treated as capital under section 2 not been made, there would have been a receipt of income.