1extent E + Scheme to transfer assets of certain Church fundsE

section 1 1 + (1)The trustee of a CBF Church of England Fund may make a scheme for the transfer of the assets of that fund to a charity authorised investment fund established for that purpose.

section 1 2 + (2)A “CBF Church of England Fund” is a fund to which the Church Funds Investment Measure 1958 applies known by one of the following names—

section 1 2 a + (a)the CBF Church of England Investment Fund;

section 1 2 b + (b)the CBF Church of England Short Duration Bond Fund;

section 1 2 c + (c)the CBF Church of England Deposit Fund;

section 1 2 d + (d)the CBF Church of England Property Fund;

section 1 2 e + (e)the CBF Church of England UK Equity Fund;

section 1 2 f + (f)the CBF Church of England Global Equity Fund.

section 1 3 + (3)A scheme under this section may include supplementary, incidental, consequential, transitional or saving provision and may in particular make provision for—

section 1 3 a + (a)the dissolution of the fund the assets of which are being transferred;

section 1 3 b + (b)the retention of assets of the fund to meet its liabilities;

section 1 3 c + (c)the payment of fees and expenses.

section 1 4 + (4)term charity authorised investment fund + “Charity authorised investment fund” means a fund which is—

section 1 4 a + (a)an authorised fund, and

section 1 4 b + (b)established under a common investment scheme under section 96 of the Charities Act 2011.

section 1 5 + (5)term authorised fund + In subsection (4)(a), “authorised fund” means a fund the property of which is—

section 1 5 a + (a)held under a unit trust scheme authorised by an order under section 243 of the Financial Services and Markets Act 2000,

section 1 5 b + (b)held under a contractual scheme authorised by an order under section 261D(1) of that Act, or

section 1 5 c + (c)subject to a collective investment scheme constituted by an open-ended investment company in respect of which an authorisation order is in force under regulations made under section 262 of that Act.