Article 6 New rule 122

The following rule shall be substituted for rule 122:

“Dispositions in favour of a charity

122

(1)

A disposition or dealing in favour of a charity shall comply with this rule.

(2)

The statement required by section 37(5) of the Charities Act 1993 to be inserted into any instrument effecting a disposition which will result in the land being held by or in trust for a charity shall be in the following form:

• “The land transferred [or as the case may be] will, as a result of this transfer [or as the case may be], be held by or in trust for the [named] charity and either the charity is an exempt charity or the charity is not an exempt charity and the restrictions on disposition imposed by section 36 of the Charities Act 1993 will apply to the land (subject to subsection (9) of that section).”

(3)

Where the charity trustees have been incorporated under Part VII of the Charities Act 1993 they shall be described in the instrument effecting the disposition as:

• “a body corporate under Part VII of the Charities Act 1993”

(4)

Where the charity is subject to the provisions of the Universities and College Estates Acts 1925 and 1964 the instrument effecting the disposition shall contain the following statement:

• “The provisions of the Universities and College Estates Acts 1925 and 1964 apply to the charity”.”