Regulation 2 Interpretation

In these Regulations—

• “director” includes any person occupying the position of a director, by whatever name called, and in relation to a body corporate whose affairs are managed by its members means a member of the body corporate;

• “ex gratia payment” means any such application of the property of a charity, or any such waiver by a charity of any entitlement to receive any property, as may be authorised under section 27(1) of the 1993 Act;

• “the 1993 Act” means the Charities Act 1993;

• “the 1995 Regulations” means the Charities (Accounts and Reports) Regulations 1995;

• “financial year” shall be construed in accordance with regulation 5 of the 1995 Regulations^f1;

• “fixed assets” means the assets of a charity which are intended for use or investment on a continuing basis;

• “fund” means particular assets of a charity held on trusts which, as respects the purposes for which those assets are held, or as respects the powers of the charity trustees to use or apply those assets, are not identical with those on which other assets of the charity are held;

• “income reserves” means those assets in the unrestricted fund of a charity which the charity trustees have, or can make, available to apply for all or any of its purposes, once they have provided for the commitments of the charity and its other planned expenditure;

• “institution or body corporate connected with the charity” has the same meaning as in the 1995 Regulations;

• “the SORP” means the Statement of Recommended Practice for Accounting and Reporting by Charities, issued by the Charity Commissioners on 17th October 2000;

• “special case charity” means a charity which is either—

  1. (a)

     a registered social landlord within the meaning of the Housing Act 1996^f2 and whose registration has been recorded under section 3(3) of that Act; or

  2. (b)

     has during the financial year in question—

     1. (i)

        conducted an institution in relation to which a designation made, or having effect as if made, under section 129 of the Education Reform Act 1988^f3 or section 28 of the Further and Higher Education Act 1992^f4 has effect;

     2. (ii)

        received financial support from funds administered by a higher education funding council or further education funding council within the meaning of the said Act of 1992 in respect of expenditure incurred or to be incurred by the charity in connection with that institution; and

     3. (iii)

        incurred no expenditure for charitable purposes other than the purposes of that institution or any other such institution;

• “trustee for a charity” includes a custodian trustee and a nominee;

• “unrestricted fund” means a fund which is to be used or applied in any way determined by the charity trustees for the furtherance of the objects of a charity, and “restricted fund” means any other fund of a charity.