Charitable Trusts (1855). Trustees to be placed to their Banking Ac count. For Regulation of Transfers and Payments Trustees. Funds shall from Time to Time be received by the Governor and Company of the Bank of England, under the Authority of this Act, for the Credit of the said Official Trustees, and shall be placed to their Banking Account accordingly; and all Dividends and Interest arising from any other Stock, Shares, or Securities standing in the Name of or held by the Official Trustees of Charitable Funds shall be paid only to the Governor and Company of the Bank of England for the Account of the same Trustees; and the said Trustees shall from Time to Time execute to the said Governor and Company all such Powers as shall be found necessary for enabling them to receive and give effectual Discharges for the last-mentioned Dividends and Interest. XXV. No Transfer of any Stock, Shares, or Securities shall be made to the Official Trustees of Charitable Funds, nor shall to or by Official any Money, other than the Dividends or Interest of any such Stock, Shares, or Securities as aforesaid, be paid to their Account, except in pursuance of an Order of the Court of Chancery, or of some Judge thereof, or of a District Court of Bankruptcy, or County Court, or of the Board; and no Transfer of any such Stock, Shares, or Securities shall be made by the Official Trustees, except under the Order of such Court or Judge, or under the Order of the Board signed by Two Commissioners, or authenticated in such Manner as the Lord Chancellor from Time to Time by any Order under his Hand direct; and no Transfer to or by the Official Trustees shall be permitted by the Governor and Company of the Bank of England or any other Company contrary to this Provision. Copies of cer tain Orders to be sent to Board. Indemnity to the Bank and others. Dividends on Stock in Name of Official Trusried to Account tees to be car free from Income Tax. XXVI. Copies of all Orders made by any Court or Judge for any Transfer, Deposit, or Payment of Stock, Shares, Securities, or Monies to or by the Official Trustees of Charitable Funds, shall be forthwith transmitted to the Board by the Parties obtaining such Orders. XXVII. Every Order made under the principal Act or this Act, requiring or authorizing the Transfer, Payment, or Deposit of any Stock, Shares, Securities, or Monies to or with the Trustees of any Charity or the Official Trustees of Charitable Funds, or conferring a Right to call for or to make such Transfer, shall be a complete Indemnity to the Governor and Company of the Bank of England and all Companies and Persons for any Act done pursuant to such Order; and the said Governor and Company and other Companies and Persons shall be required to give effect or to conform to every such Order, and it shall not be necessary for them to inquire concerning the Propriety of such Order, or the Jurisdiction of the Court or Judge or the Board to make the same. XXVIII. All Dividends arising from any Stock in the Public Funds standing in the Name of the Official Trustees of Charitable Funds, and which shall be certified by the Board, to the Governor and Company of the Bank of England, to be exempt from the Property or Income Tax, shall be paid or carried to the Banking Account of the Official Trustees without any Deduction of such Tax; and all Dividends arising from any Stock in the Public Funds Charitable Trusts (1855). Funds standing in any other Names or Name, and which the Board shall certify to the Governor and Company of the Bank of England to be subject only to Charitable Trusts, and to be exempt from such Tax, shall be paid without any Deduction thereof. XXIX. It shall not be lawful for the Trustees or Persons acting Restrictions of in the Administration of any Charity to make or grant, otherwise Charges and than with the express Authority of Parliament, under any Act Leases of Chaalready passed, or which may hereafter be passed, or of a Court rity Estates. or Judge of competent Jurisdiction, or according to a Scheme legally established, or with the Approval of the Board, any Sale, Mortgage, or Charge of the Charity Estate, or any Lease thereof in reversion after more than Three Years of any existing Term, or for any Term of Life, or in consideration wholly or in part of any Fine, or for any Term of Years exceeding Twenty-one Years. lieu of Provi gage Deeds. XXX. So much of Section Twenty-one of the principal Act as Sinking Fund requires a compulsory Provision to be inserted in every Mortgage to be provided for the Payment of the Principal Money borrowed by annual for paying off Instalments, and for the Redemption and Reconveyance of the Mortgages in mortgaged Estates within the Period of not more than Thirty sion in MortYears, is hereby repealed; but the Board authorizing any Mortgage to be made of any Charity Estate shall make such Provisions, by the same or any other Order, as to them may seem necessary, for directing the Trustees or Persons administering the Charity to discharge the Principal Debt or any Part thereof by such yearly or, other Instalments, within Thirty Years from the Date of the Security, as to the said Board may seem fit, or to form an Accumulation or Sinking Fund out of the Income of the Charity for discharging the Principal Debt, or any Portion thereof within the same Period, and shall give Directions as to the Investment and Accumulation of such Fund, and the Trustees for the Time being, or Persons administering the Charity, shall carry such Order into effect. XXXI. The Twenty-third Section of the principal Act shall Extension of extend to authorize a Compromise or Adjustment of any Claim, Power of Board Demand, or Cause of Suit against any Charity, or the Trustees as to Comproor Administrators thereof, and the Order of the Board in relation mise of Claims. thereto shall have the like Effect as in the Case of any Compromise or Adjustment for which Provision is made by the said Section. change, &c. XXXII. The Board may authorize the Application of any Board may auFunds belonging to any Charity, in Payments for Equality of thorize PayExchange or Partition, or in Payment of any Expenses incident ment for Equathereto, or may authorize the Trustees to raise any Money for lity of Exsuch Purposes, by Mortgage of any Land acquired on such Exchange or Partition, or belonging to the Charity. XXXIII. Where there shall be Uncertainty as to the specific Power to ascerPart of any Lands out of which any Rent, Annuity, or other tain Lands periodical Payment, not exceeding the yearly Sum of Ten Pounds, charged with Rents to Cha-] charged upon some Part of the same Lands, for the Benefit of a rities. Charity, shall be payable, it shall be lawful for the Board, upon the Application of the Trustees or Persons acting in the Administration of the Charity, and with the Consent of the Persons 18 & 19 VICT. interested, 3 C Charitable Trusts (1855). interested, according to the aforesaid Definition of "Persons interested," in the same Lands, to determine by their Order the Land charged with such Rent, Annuity, or other periodical Payment, which shall thenceforth stand charged with such Rent, Annuity, or periodical Payment accordingly, to the Exoneration of the Residue of such Lands therefrom. Expenses of XXXIV. The Expenses incident to the Application for, and Exchanges, &c. procuring of any such Order of Exchange or Partition, or Order and determin- determining the Land charged with any Rent, Annuity, or periodiing Application cal Payment, shall be paid by the Trustees or Administrators of the Charity, or by the other Parties to such Transactions, or by both, as the Board may direct. of Charges. Incorporated Order of Board for Investments to be carried into effect, and Cost to be raised. Board may direct Official Trustees to convey Lands, &c. Leases, &c., to be valid notwithstanding disabling Acts. Board may approve Schemes for letting Property. Power to refer Bills of Costs in Charity XXXV. Any incorporated Charity, or the Trustees of any Charity, whether incorporated or not, may, with the Consent of the Board, invest Money arising from any Sale of Land belonging to the Charity, or received by way of Equality of Exchange or Partition, in the Purchase of Land, and may hold such Land, or any Land acquired by way of Exchange or Partition, for the Benefit of such Charity, without any Licence in Mortmain. XXXVI. All Orders of the Board for the Investment of Money coming to any Charity, or the Trustees thereof, on any Sale, Exchange, or Partition, shall be carried into effect by the Trustees or Persons administering the Charity; and all Monies which the Board shall order to be provided out of any Income or Property of a Charity, for the Payment of the Costs of any such Transaction, shall be provided or raised by the Trustees or Administrators of the Charity, and applied accordingly. XXXVII. It shall be lawful for the Board to authorize or order and direct the Official Trustee of Charity Lands, and the Official Trustees of Charitable Funds respectively, to convey Lands, and to assign, transfer, and pay over Stocks, Funds, Monies, and Securities, as the Board shall think expedient. XXXVIII. All Leases, Sales, Exchanges, Partitions, and Transactions authorized by the Board under the principal Act, or this Act, shall be valid and effectual, notwithstanding the Act of the Thirteenth Year of the Reign of Queen Elizabeth, Chapter Ten, the Acts of the Fourteenth Year of the same Queen, Chapters Eleven and Fourteen, the Acts of the Eighteenth Year of the same Queen, Chapters Six and Eleven, the Act of the Thirty-ninth Year of the same Queen, Chapter Five, and the Act of the Twenty-first Year of the Reign of King James the First, Chapter One, or any disabling Act applicable to the Charity, the Estates whereof shall be the Subject of any such Transaction. XXXIX. It shall be lawful for the Board to prepare, and under their Seal to approve of, any Scheme for the letting of the Property or any Part of the Property of any Charity; and all Leases granted by any Trustees or Persons acting in the Management of any Charity, pursuant to or in conformity with such Scheme, shall be valid. XL. The Board may order the Bill of Costs or Charges claimed by any Attorney or Solicitor on account of Business conducted or transacted by him on behalf of any Charity, or the Trustees thereof, to Charitable Trusts (1855). to be examined and taxed by the Taxing Masters of the Court of Matters to Chancery, or by the proper Taxing Officers of any of the Superior Taxation. Courts at Westminster, who shall proceed to examine and tax the same Bill accordingly; and if the same shall be reduced upon such Taxation by the Amount of One Sixth Part or more of the Amount thereof, the Costs of the Taxation shall be paid by such Attorney or Solicitor, but otherwise, out of the Funds of the Charity by the Trustees thereof; and the Board may, after being satisfied as to any Bill that it contains exorbitant Charges, order any such Bill to be so taxed, notwithstanding that the same may have been paid by the Trustees of the Charity, at any Period not more than Six Calendar Months previously to such Order; and any Amount taxed off any such paid Bill shall be a Debt due from the Attorney or Solicitor to the Trustees of the Charity, and shall be forthwith paid by him to such Trustees accordingly. c. 137. XLI. Section Twenty-seven of "The Charitable Trusts Act, Construction of 1853," shall be construed and operate as if the Words "and the Sect. 27. of "Trustees of the Charity shall be legally authorized to purchase 16 & 17 Vict. "and hold such Land" had been omitted therefrom; and incorporated Trustees of any Charity shall be competent to purchase and hold Lands, for the Purposes mentioned in the same Section, without Licence in Mortmain. XLII. Any Deed, Will, or Document relating to any Charity Deeds, &c. remay be enrolled by the Board in Books to be provided and kept lating to Chariby them for that Purpose at their Office, and a Copy of any such ties may be enDeed, Will, or Document made from such Books, and certified under the Hand of the Secretary or One of the Commissioners, shall be received as Evidence of the Contents of the same Deed, Will, or Document. rolled at the Office, &c. c. 137. 16 & 17 Vict. c. 137. and other Provision made as to the annual Returns XLIII. The Fifty-fifth and Fifty-ninth Sections of the principal Construction of Act shall be construed and operate as if the Words "The Office ss. 55. and 59. of the Board" had been inserted therein in the Place of the Words of 16 & 17 Vict. "the Office in London of the Registrar of County Courts Judgments." XLIV. Section Sixty-one of "The Charitable Trusts Act, Amendment of Sect. 61. of 1853," except so much thereof as enacts that the Trustees or Persons acting in the Administration of every Charity shall, in Books to be kept by them for that Purpose, regularly enter or cause to be entered full and true Accounts of all Money received and paid respectively on account of such Charity, shall be repealed as to all Accounts which such Trustees or Administrators shall not have been bound to render before the passing of this Act; and the Trustees or Administrators of every Charity shall, on or before the Twenty-fifth Day of March One thousand eight hundred and fifty-six, prepare and make out, and transmit to the Board an Account of the Endowments then belonging to the Charity, showing, in the Case of Realty not in hand, the Manner in which the same is let or occupied, and in the Case of Personalty, the existing Investment or Employment thereof, and in what Names such Investments are made; and such Trustees or Administrators shall also, on or before the Twenty-fifth Day of March next after the Acquisition of any Endowment not included in the foregoing 3 C 2 Account, of Accounts by Trustees of Charities. Board may make Orders as to Delivery, &c. Application of 16 & 17 Vict. c. 137. 8. 64. Acts not to apply to Roman Catholic Charities until 1st Sept. 1856. Charitable Trusts (1855). Account, prepare and make out, in like Manner, and transmit to the Board, a similar Account of such last-mentioned Endowment, and in case of any Alienation, or Charge, or Transfer of any Real or Personal Estate of the Charity, shall on or before the Twentyfifth Day of March then next following, transmit to the Board an Account of such Alienation, Charge, or Transfer, and such Trustees or Administrators shall also, on or before the Twenty-fifth Day of March in every Year, or such other Day as may be fixed for that Purpose by the Board, or as may have been already fixed for rendering the Accounts thereof required by the principal Act, prepare and make out the following Accounts in relation thereto; (that is to say,) (1.) An Account of the gross Income arising from the Endowment, or which ought to have arisen therefrom during the Year ending on the Thirty-first Day of December then last, or on such other Day as may have been appointed for this Purpose by the Board: (2.) An Account of all Balances in hand at the Commencement (3.) An Account for the same Period of all Payments: Which Accounts shall be certified under the Hand of One or more XLV. The Board may from Time to Time make such Orders as they may think fit, in relation to the Delivery or Transmission of the said Accounts, and the Forms of such Accounts, and such Orders shall be executed by all Trustees and Persons from whom the Accounts to which they may relate are required. XLVI. The Sixty-fourth Section of the principal Act shall apply as well to Members of any Charity within the Operation of that Act, as to Members of any Charity exempted from the Operation thereof. XLVII. Neither this Act nor the principal Act shall, until the First Day of September One thousand eight hundred and fifty-six, extend, or be in any Manner applied to Charities or Institutions, the |
