Session 2015-16
Other Public Bills before Parliament
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Charities (Protection and Social Investment) Bill [HL]
to be moved
in grand committee
[Supplementary to the Marshalled List]
After Clause 12
BARONESS PITKEATHLEY
Insert the following new Clause—
“Review of Charity Commission’s funding arrangements
The Secretary of State must order a review of the Charity Commission’s
funding arrangements and look into different options for funding.”
Clause 13
LORD HODGSON OF ASTLEY ABBOTTS
Page 16
, leave out line 11 and insert—
“(a)
furthering one or more of the Charity’s purposes in whole
or in part; and”
Page 16, line 27,
at end insert—
“( ) A relevant act of a charity may be carried out with a view to
furthering one or more of the charity’s purposes in whole or in part
for the purposes of this section even where the relevant act may not
exclusively further one or more of the charity’s purposes.”
Page 17, line 22,
at end insert “having had regard to the degree to which the
relevant act is expected to further one or more of the Charity’s purposes in whole
or in part, and the expected financial return.”
Page 17, line 38,
at end insert—
“292D Marketing of social investments
(1) Any financial promotion which is communicated by a charity shall
not be subject to the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005.
(2) The Treasury may by regulations set out rules for the
communication of financial promotions by charities.
(3)
In making any such regulations, the Treasury shall have regard to—
(a) the desirability of creating rules which are proportionate to
the nature, scale and capacity of different charities and
which are easy to understand and follow;
(b) the desirability of creating rules which support the growth,
development and financing of charities and which are
enabling and facilitative;
(c) the desirability of facilitating, where appropriate, direct
investment on the part of consumers into charities,
including charities which operate locally to the consumer;
(d) the desirability of consistency of approach in the regulatory
treatment of communications made by different forms of
charities;
(e) the differing expectations that consumers may have in
relation to different kinds of investment or other transaction
and, in particular, the fact that many when investing in
charities do so for a variety of non-financial reasons; and
(f) the desirability, where appropriate, of the Financial
Conduct Authority exercising its functions in a way that
recognises differences in the nature of, and objectives of,
charities as compared to other organisations which are
subject to the requirements of the Financial Services and
Markets Act 2000.”