Trusts (Capital and Income) Act 2013

Lord Grayling Excerpts

Tuesday 8th October 2013 Written Statements

[The Lord Chancellor and Secretary of State for Justice (Chris Grayling)]

In a written ministerial statement of 14 March 2013, Official Report, column 27WS, my hon. Friend the then Parliamentary Under-Secretary of State, the Member for Maidstone and The Weald (Mrs Grant) announced that she had made the Trusts (Capital and Income) Act 2013 (Commencement No. l) Order 2013. This order brought the following provisions of the Trusts (Capital and Income) Act 2013 into force on the dates specified: (a) sections 1 to 3 (inclusive) on 1 October 2013; and (b) for the purpose only of exercising the power to make regulations in accordance with section 104B of the Charities Act 2011 as inserted by that provision, section 4 on 6 April 2013.

My hon. Friend also said in the same statement that she would make a further announcement about the commencement of the remainder of section 4, which specifies when and how charities may adopt total return investment, following the completion of a consultation by the Charity Commission on the content of the regulations to be made under the new section 104B.

The Charity Commission has now completed the consultation and intends to bring the regulations into force on 1 January 2014. The Trusts (Capital and Income) Act 2013 (Commencement No.2) Order 2013 has therefore been made, which will bring section 4 fully in force on 1 January 2014.

As a result of the making of this order the whole of the Trusts (Capital and Income) Act 2013 will be in force from and including 1 January 2014.