Regulation 7 Assignment etc.

(1)

Resale right is not assignable.

(2)

Any charge on a resale right is void.

(3)

Paragraph (1) does not prevent the transfer of a resale right which was transmitted to a qualifying body under regulation 9 (or is deemed to have been so transmitted under regulation 16), provided that the transfer is to another qualifying body.

(4)

A qualifying body is a body which—

(a)

is a charity within the meaning of section 96(1) of the Charities Act 1993^f1 or section 35 of the Charities Act (Northern Ireland) 1964^f2;

(b)

is a Scottish charity; or

(c)

is a foreign charity, and has its central administration in an EEA state or a country listed in Schedule 2.

(5)

In paragraph (4)—

(a)

“Scottish charity” means—

(i)

a body entered in the Scottish Charity Register under section 3 of the Charities and Trustee Investment (Scotland) Act 2005^f3; or

(ii)

a “recognised body” within the meaning of section 1(7) of the Law Reform (Miscellaneous Provisions)(Scotland) Act 1990^f4; and

(b)

“foreign charity” means a body which is established outside the United Kingdom for purposes similar to those for which a body within paragraph (4)(a) or (b) may be established, and which is subject to similar rules regarding the distribution and application of its assets.

Annotations

Footnotes

f1: 1993 c. 10.
f2: 1964 c. 33.
f3: 2005 asp 10; section 3 comes into force on such day as the Scottish Ministers may by order appoint.
f4: 1990 c. 40; section 1 is amended by paragraph 7(a) of Schedule 4 to the Charities and Trustee Investment (Scotland) Act 2005, which comes into force on such day as the Scottish Ministers may by order appoint.