Charity Commission (cc) consultation on draft regulations affecting permanently endowed trusts (pet)
Date: 7th May, 2013 | Author: Louise Giles | Comments: 0
These draft regulations mean that trustees of pets will be able to adopt a total return approach to investments without seeking prior permission from the cc. This means that investment returns will not be labelled capital or income, but that trustees who adopt the new power will be able to allocate the return in the way that they feel best furthers the charity’s aims now an in the future.
The draft regulations are out for consultation until 20 June 2013 and can be viewed at the cc website, www.charitycommission.gov.uk. It is expected that the regulations will be in place in October 2013.