Part 13F1Powers to amend trusts and use capital
F2Power to borrow from permanent endowment
Ss. 284A-284D and cross-heading inserted (14.6.2023) by Charities Act 2022 (c. 6), ss. 12(2), 41(4); S.I. 2023/643, Sch. para. 4
284DInability to repay
1
If (at any time) it appears to the charity trustees that—
a
they will not be able to fulfil the arrangements put in place to repay an amount borrowed under section 284A, or
b
those arrangements are not sufficient to ensure that the amount is repaid,
the trustees must apply to the Commission for an order under this section directing them how to proceed.
2
An order under this section may give such directions as the Commission thinks fit, including—
a
that the relevant amount may be repaid over a longer period,
b
that the charity trustees put in place arrangements specified in the order, or
c
that the charity trustees need not repay an amount borrowed.
Pt. 13 heading substituted (14.6.2023) by Charities Act 2022 (c. 6), s. 41(4), Sch. 2 para. 19; S.I. 2023/643, Sch. para. 20(e)