Charities Act 2011

119Requirements for dispositions other than certain leasesE+W

(1)The requirements mentioned in section 117(2)(b) are that the charity trustees must, before entering into an agreement for the sale, or (as the case may be) for a lease or other disposition, of the land—

(a)obtain and consider a written report on the proposed disposition from a [F1designated adviser] instructed by the trustees and acting exclusively for the charity,

F2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . and

(c)decide that they are satisfied, having considered the [F3adviser’s] report, that the terms on which the disposition is proposed to be made are the best that can reasonably be obtained for the charity.

(2)Subsection (1) does not apply where the proposed disposition is the granting of such a lease as is mentioned in section 120(1).

(3)For the purposes of subsection (1) a [F4designated adviser] is a person who—

(a)is a fellow or professional associate of the Royal Institution of Chartered Surveyors or satisfies such other requirement or requirements as may be prescribed by regulations made by the Minister, and

(b)is reasonably believed by the charity trustees to have ability in, and experience of, the valuation of land of the particular kind, and in the particular area, in question.

(4)Any report prepared for the purposes of subsection (1) must F5... deal with such matters F6... as may be prescribed by regulations made by the [F7Secretary of State].

Textual Amendments