Section 96 Power of charity to participate in certain financial schemesI1
(1)
Every charity has power to participate in common investment schemes and common deposit schemes.
(2)
Subsection (1) does not apply where a charity's constitution excludes such participation by referring specifically to common investment schemes or, as the case may be, common deposit schemes.
(3)
In this section, “common investment scheme” and “common deposit scheme” have the meanings given to those expressions in F1sections 96 and 100 of the Charities Act 2011.
Annotations
Textual amendments
- F1
Words in s. 96(3) substituted (14.3.2012) by Charities Act 2011 (c. 25), s. 355, Sch. 7 para. 108 (with s. 20(2), Sch. 8)
Commencement
- I1
S. 96 in force at 27.2.2007 by S.S.I. 2007/117, art. 2(1)