Governing document THE MARK LILLY CHARITABLE TRUST

Charity Number: 1211102
Recently registered

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

TRUST DEED DATED 20 DEC 2023

Charitable objects

THE TRUSTEES SHALL HOLD THE CAPITAL AND INCOME OF THE TRUST FUND UPON TRUST TO APPLY THE INCOME, AND ALL OR SUCH PART OR PARTS OF THE CAPITAL, AT SUCH TIME OR TIMES AND IN SUCH MANNER TO ADVANCE, OR FOR THE BENEFIT OF, SUCH EXCLUSIVELY CHARITABLE OBJECTS AND PURPOSES IN ANY PART OF THE WORLD AS THE TRUSTEES MAY IN THEIR DISCRETION THINK FIT. NOTWITHSTANDING THE PROVISIONS OF SUB-CLAUSE 3.1, DURING THE LIFETIME OF THE SETTLOR FOR THE PERIOD OF 21 YEARS FROM THE DATE HEREOF IF LONGER, THE TRUSTEES MAY IN THEIR DISCRETION, INSTEAD OF APPLYING THE INCOME OF THE TRUST FUND IN ANY YEAR, ACCUMULATE ALL OR ANY PART OF SUCH INCOME BY INVESTING THE SAME, AND THE RESULTING INCOME, IN ANY INVESTMENTS AUTHORISED BY THIS DEED OR BY LAW AS AN ACCRETION TO AND AS PART OF THE CAPITAL OF THE TRUST FUND, WITHOUT PREJUDICE TO THEIR RIGHT TO APPLY THE WHOLE OR ANY PART OF SUCH ACCUMULATED INCOME IN ANY SUBSEQUENT YEAR AS IF THE SAME WERE INCOME OF THE TRUST FUND ARISING IN THE THEN CURRENT YEAR. SUBJECT THERETO THE TRUSTEES MAY AT ANY TIME SET ASIDE ANY PART OF THE INCOME AS A RESERVE FUND TO MEET PLANNED FUTURE EXPENDITURE.


Print charity details