Governance Briefing — March 7, 2024

Executive briefing: On 7 March 2024 the second tranche of Charities Act 2022 provisions entered into force in England and Wales. The changes simplify requirements for disposing of charity land, modernise permanent endowment powers, and clarify when charities can pay trustees for goods or services.

Key governance signals

• Land disposals. Trustees can instruct a wider group of advisers for land valuations, with refreshed requirements for written reports and board approvals.
• Permanent endowment flexibility. Charities gain new powers to borrow from permanent endowment and invest in social investments, subject to board resolutions and reporting.
• Trustee payments. Updated provisions clarify procedures for paying trustees for services, reinforcing conflict management and documentation.

Action checklist

• Revise property governance policies to reflect adviser eligibility, board approval thresholds, and reporting obligations.
• Document decision-making frameworks for permanent endowment borrowing or social investments, including risk assessments and repayment plans.
• Update conflicts of interest registers and agreements covering trustee payments for goods or services.

Sources

• Charities Act 2022 implementation plan
• Guidance for charities on the Charities Act 2022 changes

Zeph Tech helps charities update land disposal, endowment, and trustee payment policies to comply with the March 2024 Charities Act commencement.

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