[F1292BGeneral power to make social investmentsU.K.
(1)An incorporated charity has, and the charity trustees of an unincorporated charity have, power to make social investments.
(2)The power conferred by this section may not be used to make a social investment involving—
(a)the application or use of permanent endowment, or
(b)taking on a commitment mentioned in section 292A(4)(b) that puts permanent endowment at risk of being applied or used,
unless the charity trustees expect that making the social investment will not contravene any restriction with respect to expenditure that applies to the permanent endowment in question [F2(but see section 104AA, which confers on charity trustees a power to use permanent endowment to make social investments in certain circumstances)].
(3)The power conferred by this section—
(a)may be restricted or excluded by the trusts of the charity;
(b)is (subject to paragraph (a)) in addition to any other power to make social investments that the charity or charity trustees may have.
(4)This section and section 292C do not apply in relation to—
(a)charities established by, or whose purposes and functions are set out in, legislation;
[F3(b)charities established or regulated by Royal charter;]
but they apply in relation to all other charities, whether established before or after this section comes into force.
(5)In subsection (4) “legislation” means—
(a)an Act of Parliament or an Act or Measure of the National Assembly for Wales; or
(b)subordinate legislation (within the meaning of the Interpretation Act 1978) made under such an Act or Measure.]
Textual Amendments
F1Pt. 14A inserted (31.7.2016) by Charities (Protection and Social Investment) Act 2016 (c. 4), ss. 15(1), 17(4); S.I. 2016/815, reg. 2(k)
F2Words in s. 292B(2) inserted (14.6.2023) by Charities Act 2022 (c. 6), s. 41(4), Sch. 2 para. 23; S.I. 2023/643, Sch. para. 20(i)
F3S. 292B(4)(b) substituted (14.6.2023) by Charities Act 2022 (c. 6), s. 41(4), Sch. 2 para. 45; S.I. 2023/643, Sch. para. 20(u)
Modifications etc. (not altering text)