Section 244 Effect of confirmation of resolution

(1)

If the resolution of the transferor CIO is confirmed (or treated as confirmed) by the Commission—

(a)

all the property, rights and liabilities of the transferor CIO become by virtue of this subsection the property, rights and liabilities of the transferee CIO in accordance with the resolution, and

(b)

the transferor CIO is dissolved.

(2)

F1Subsection (3) applies to a gift if—

(a)

the gift would have taken effect as a gift to the transferor CIO if it had not been dissolved, and

(b)

the date on which the gift would have taken effect is a date on or after the date on which the resolution is confirmed (or treated as confirmed).

(3)

The gift takes effect as a gift to the transferee CIO.

Annotations

Textual amendments

F1: S. 244(2)(3) substituted for s. 244(2) (7.3.2024) by Charities Act 2022 (c. 6), ss. 33(3), 41(4) (with s. 33(5)); S.I. 2024/265, reg. 3, Sch. 1 para. 8