124 Restrictions on mortgages
Charities Act 2011 (2011 c 25) | Legislation

Restrictions on mortgages of land in England and Wales

124  Restrictions on mortgages

(1)     Subject to subsection (2), no mortgage of land held by or in trust for a charity is to be granted without an order of—

(a)     the court, or

(b)     the Commission.

(2)     Subsection (1) does not apply to a mortgage of any such land if the charity trustees have, before executing the mortgage, obtained and considered proper advice, given to them in writing, on the relevant matters or matter mentioned in subsection (3) or (4) (as the case may be).

(3)     In the case of a mortgage to secure the repayment of a proposed loan or grant, the relevant matters are—

(a)     whether the loan or grant is necessary in order for the charity trustees to be able to pursue the particular

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