10 Amendment of powers to release restrictions on spending capital
Charities Act 2022 (2022 c 6) | Legislation

10  Amendment of powers to release restrictions on spending capital

(1)     The Charities Act 2011 is amended as follows.

(2)     In section 281 (power of unincorporated charities to spend capital: general)—

(a)     in subsection (1), omit “which is not a company or other body corporate”;

(b)     after subsection (6) insert—

“(6A)     If—

(a)     an amount falls to be repaid to or paid into the fund by the charity trustees because the charity trustees have borrowed an amount from the fund,

(b)     the amount when repaid or paid would fall to be added to the fund and to be subject to the same restrictions as to expenditure as apply to the other capital in the fund, and

(c)     the condition in subsection (6B) is met in relation to the charity,

the charity trustees may resolve for the purposes of this section that the obligation to repay or pay the amount ought to cease to have effect either wholly or in part.

(6B)     The condition is that the charity trustees are satisfied that the purposes set out in the trusts

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