Wills & Trusts Law Reports | Autumn 2020 #180H and C were two directors and trustees of a charitable company limited by guarantee. They, together with L, were the members of the company. In July 2015 H and C agreed that, subject to the approval of the Charity Commission or the court, C would resign as a director and member of the company and the company would make a grant of $360m to a charity founded by C.
Companies Act 2006, s217 provides that:
‘A company may not make a payment for loss of office to a director of the company unless the payment has been approved by a resolution of the members of ...
In part two of his article on Young v AG [2012], Charles King-Farlow considers the cases the judge relied upon to make the decision ‘There is no specific formula for the creation of a binding trust under English law. What is necessary is that a person holds property for the benefit of other persons or …
Continue reading "Charities: Breaking the mould"
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