The first tranche of provisions came into effect in October 2022 and the third tranche is due to be implemented by the end of 2023.
The second tranche of provisions includes:
With these reforms now in force, charities may wish to consider how best to harness their permanent endowment funds, with particular attention to new powers to borrow and make social investments using permanent endowment.
Charities looking to dispose of land can now benefit from a somewhat less burdensome regime for the disposal of charity land.
You can refer to our update on the Implementation of the Charities Act 2022 for more information, including the deferral of some charity land provisions from the second to the third tranche.
For further background reading on the Charities Act 2022 see our pieces on the Charities Bill receiving royal assent and the Government's response to Law commission recommendations.