Charity Commission

House of Lords written question – answered on 29th August 2013.

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Photo of Baroness Jolly Baroness Jolly Liberal Democrat

To ask Her Majesty’s Government what discussions they have had with the Charity Commission about the future of The National Fund; what options for the future of the Fund, specifically including the possibility of its early application to reduce the national debt, have been considered and (1) dismissed, or (2) remain under consideration; and when any decision is expected to be made.

Photo of Lord Wallace of Tankerness Lord Wallace of Tankerness Lords Spokesperson (Attorney General's Office), The Advocate-General for Scotland, Lords Spokesperson (Scotland Office)

There has been correspondence between the Charity Commission, the trustees and the Attorney General's Office over the National Fund.

The Fund is operated in accordance with its rules and section 9 of the Superannuation and Other Trust Funds (Validation) Act 1927. It is accumulating as the original donors intended.

Options are being considered for the future of the Fund, consistent with its object of extinguishing or reducing the national debt. These include a possible application to the court for directions. Whilst this work is on-going, it would not be appropriate to comment further. It is expected that a decision will be made later this year.

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