Investment and finance

FORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and the plan, as set out in Charities Act 2022: implementation plan is for its provisions to come into force in three defined groups over three stages, on 31 October 2022, on 14 June 2023 and in ‘early 2024’.

For a summary of the provisions in CA 2022 which have been implemented so far, see: Charities Act 2022: information about the changes being introduced.

CA 2022 implements the majority of the recommendations from the 2017 Law Commission report, ‘Technical Issues in Charity Law’. For a summary (as at 9 April 2021) of the recommendations that have been accepted, see News Analysis: Government response to Law Commission report ‘Technical Issues in Charity Law’.

Of particular relevance to this Practice Note are the changes relating to permanent endowments. Significantly, these changes would allow trustees to spend up to 25% of their permanent endowment if they repay it within 20 years and to apply permanent endowment to social investments, if trustees opt-in to the total return investment regulations (together with reformulating the current statutory definition to

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Powered by Lexis+®
Latest Private Client News
View Private Client by content type :

Popular documents