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Section 38 Common investment schemes for charities etc.

Parts II to IV do not apply to—

(a)

trustees managing a fund under a common investment scheme made, or having effect as if made, under F1section 96 of the Charities Act 2011, other than such a fund the trusts of which provide that property is not to be transferred to the fund except by or on behalf of a charity the trustees of which are the trustees appointed to manage the fund, or

(b)

trustees managing a fund under a common deposit scheme made, or having effect as if made, under F2section 100 of that Act.

Annotations

Textual amendments

F1

Words in s. 38(a) substituted (14.3.2012) by Charities Act 2011 (c. 25), s. 355, Sch. 7 para. 89(a) (with s. 20(2), Sch. 8)

F2

Words in s. 38(b) substituted (14.3.2012) by Charities Act 2011 (c. 25), s. 355, Sch. 7 para. 89(b) (with s. 20(2), Sch. 8)