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Trusts (Capital and Income) Bill [HL]

Volume 740: debated on Tuesday 23 October 2012

Third Reading

My Lords, I have it in command from Her Majesty the Queen to acquaint the House that Her Majesty, having been informed of the purport of the Trusts (Capital and Income) Bill, has consented to place her interests, so far as they are affected by the Bill, at the disposal of Parliament for the purposes of the Bill.

My Lords, on behalf of my noble friend Lord McNally, I beg to move that the Bill be now read a third time.

My Lords, before we wave goodbye to the Bill, and in congratulating the Government on its provisions, perhaps I may ask my noble friend to ensure that the Ministry of Justice understands that this was only a very small step and that there are many other aspects of the Bill as they affect charities which could usefully and properly be followed through.

My noble friend is correct. The Bill makes minor modifications and there is obvious scope to look at this issue further.

My Lords, I add my tribute to the work of the Law Commission in relation to the Bill. It is a short but useful Bill. In Clause 1 we say farewell to a number of old friends familiar to generations of law students, if to nobody else. Clause 4 is important since it gives greater flexibility to the trustees of charitable trusts. All in all, the Law Commission is to be congratulated on producing a valuable reform of the law and I look forward to its next instalment.

Bill passed and sent to the Commons.