Paragraph 5 Powers of the Trustee

In addition to any other powers which it has, the Trustee may exercise the following powers in furtherance of the Object of the charity: the power to—

(a)

make rules and regulations consistent with this scheme for the management of the charity;

(b)

make grants and loans on such terms as the Trustee thinks fit;

(c)

allow investments to be held in the name of a corporate body as the Trustee’s nominee and pay reasonable remuneration for the service provided, but only if the corporate body is incorporated in, or has established a branch or place of business in, England or Wales;

(d)

promote or carry out research;

(e)

provide advice;

(f)

publish or distribute information;

(g)

co-operate with other bodies;

(h)

support, administer or set up other charities;

(i)

raise funds, but not by means of taxable trading;

(j)

borrow money and give security for loans, but only in accordance with the restrictions imposed by the 2011 Act;

(k)

acquire or hire property of any kind;

(l)

let or dispose of property of any kind, but only in accordance with the restrictions imposed by the 2011 Act;

(m)

set aside funds for special purposes or as reserves against future expenditure;

(n)

deposit or invest in funds in any manner, but to invest only after obtaining such advice from a financial expert as the Trustee considers necessary and having regard to the suitability of investments and the need for diversification;

(o)

delegate the management of investments to a financial expert, but only on terms that—

(i)

the investment policy is set down in writing for the financial expert by the Trustee;

(ii)

every transaction is reported promptly to the Trustee;

(iii)

the performance of the investments is reviewed regularly with the Trustee;

(iv)

the Trustee is entitled to cancel the delegation arrangement at any time;

(v)

the investment policy and the delegation arrangement are reviewed at least once a year;

(vi)

all payments due to the financial expert are on a scale or at a level which is agreed in advance and are notified promptly to the Trustee on receipt; and

(vii)

the financial expert must not do anything outside the powers of the Trustee;

(p)

deposit documents and physical assets with any company registered or having a place of business in England and Wales as custodian and pay any reasonable fee required;

(q)

insure the property of the charity against any foreseeable risk and take out other insurance policies to protect the charity when required;

(r)

pay for indemnity insurance for the Trustee in accordance with section 189 of the 2011 Act;

(s)

employ such paid or unpaid agents, staff or advisers, who may not be directors of the Trustee, as are necessary for the proper pursuit of the Object of the charity; and

(t)

enter into contracts to provide services to or on behalf of other bodies.