Section 14 Special trustsI1I2

Omit Part 14 of the Charities Act 2011 (special trusts).

In section 353 of that Act (minor definitions), after subsection (3) insert—

(4)

In this Act, “special trust” means property which—

(a)

is held and administered by or on behalf of a charity for any special purposes of the charity, and

(b)

is so held and administered on separate trusts relating only to that property.

But a special trust does not, by itself, constitute a charity for the purposes of Part 8 (charity accounts, reports and returns).