4 Total return investment by charities
Trusts (Capital and Income) Act 2013 (2013 c 1) | Legislation

4  Total return investment by charities

After section 104 of the Charities Act 2011 insert—

“Total return investment

104A Investment of endowment fund on total return basis

(1)     This section applies to any available endowment fund of a charity.

(2)     If the condition in subsection (3) is met in relation to the charity, the charity trustees may resolve that the fund, or a portion of it—

(a)     should be invested without the need to maintain a balance between capital and income returns, and

(b)     accordingly, should be freed from the restrictions with respect to expenditure of capital that apply to it.

(3)     The condition is that the charity trustees are satisfied that it is in the interests of the charity that regulations under section 104B(1)(b) should apply in place of the restrictions mentioned in subsection (2)(b).

(4)

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