My Lords, I have only one point on the Minister’s very clear explanation of this group of amendments. That is in respect of Amendment No. 85. I gave notice to his office of my question. At the end of that amendment it states that the reference to the charity ceasing to exist on this merger shall be omitted. I wanted confirmation that if that be the case—namely, that because of permanent endowment it is in future to be held back by one or more of the merging charities so that it does not cease to exist—any creditor of that charity whose claim was unmet could go against the permanent endowed assets retained by the rump charity, if I may call it that. It is very important that it should be clear where creditors will gain their satisfaction in the complicated arrangements that these new provisions provide.
Charities Bill [HL]
Proceeding contribution from
Lord Phillips of Sudbury
(Liberal Democrat)
in the House of Lords on Tuesday, 18 October 2005.
It occurred during Debate on bills on Charities Bill [HL].
About this proceeding contribution
Reference
674 c711 Session
2005-06Chamber / Committee
House of Lords chamberSubjects
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2024-04-21 14:11:54 +0100
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