Charities Act, 1973

• Permanent Page URL

Amendment of section 32 of Principal Act.

9.—The Principal Act is hereby amended by the substitution of the following new section for section 32:

“Investment of charity fund.

32.—(1) A Court may invest or order, empower, consent to or approve of the investment of any fund held upon any charitable trust in such manner, on such terms and subject to such conditions, as the Court thinks proper whether or not such investment is authorised by the trust instrument, if any.

(2) The Board may, in their discretion, invest any fund held by them upon any charitable trust in such manner as they think proper, whether or not such investment is authorised by the trust instrument, if any, or by law.

(3) The Board may, if they think fit, on the application of the trustees of any fund held upon any charitable trust, by order confer upon the trustees, either generally or in any particular instance, power to invest the fund in such manner, on such terms and subject to such conditions, as the Board may think proper, whether or not such investment is authorised by the trust instrument, if any, or by law.

(4) Subsection (3) does not apply to a fund to which section 33 for the time being applies.”.