CHARITIES BILL

Amendment 170

Page 40, line 9: at beginning insert “contemporaneously”

By restricting the trustees’ freedom to use the permanent endowment capital in a situation where two or more individuals or institutions in pursuit of a common purpose have provided the capital for a charity, is to negate the entire benefit of this provision. Whenever an individual or an institution gives money to a charity it is in pursuit of the common purpose of that charity. All charities, therefore, will be caught by the wording of clause 75a(1)(a)(iii). The insertion of the word “contemporaneously” is intended to make it clear that it is only when the individuals or institutions carry out this common pursuit in concert that this provision is to apply.

 

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