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Charities Act, 1961 (No. 17)Introductory TextActs Referred toPart I Preliminary and General (ss. 1-4)1. Short title and commencement.2. Interpretation.3. Expenses.4. Repeals.Part II  The Commissioners of Charitable Donations and Bequests for Ireland and their Jurisdiction (ss. 5-44)Chapter I The Board (ss. 5-19)5. Continuance of Board.6. Power to hold land.7. Constitution.8. Membership.9. Procedure.10. Officers and servants.11. Seal.12. Minutes of proceedings.13. Membership of Board not to disqualify Judge from hearing charity cases.14. Audit of Accounts.15. Report.16. Restriction on payment by Board of solicitor's costs.17. Indemnity of Board and persons acting under their direction.18. Service of notices on Board.19. Costs of Board to be borne by charity.Chapter II Jurisdiction and powers of the Board (ss. 20-44)20. Power to grant exemption from obligation to publish advertisements of charitable devises and bequests.21. Power to advise charity trustees as to administration of trusts.22. Compromise of claims by or against a charity.23. Power to sue for recovery of charitable gifts improperly withheld, concealed, or misapplied.24. Recovery of charitable gifts.25. Power of Board to authorise or direct institution of legal proceedings in a charity matter.26. Power of Board to certify certain charity cases to the Attorney General.27. Power of Board to apply for conduct of administration suits and suits for carrying out trusts of wills in case of delay.28. Power of Board to apply for transfer of unapplied charity fund in Court.29. Power of Board to frame schemes applying property cy-près.30. Alteration of schemes under Educational Endowments (Ireland) Act, 1885.31. Acceptance by Board of gift for charitable purposes.32. Investment of charity fund.33. Leave to invest charity fund held subject to prior limited interest.34. Power of Board to authorise or make sale, exchange, certain other dispositions of, or mortgages of charity land.35. Power of Board to authorise sale of periodical payment belonging to a charity and payable out of land.36. Power of Board to authorise purchase of periodical payment payable out of charity land.37. Power of Board or trustees of charity, with authority of Board, to let land, etc., to do repairs, etc., and raise money for those purposes.38. Investment of proceeds of sale, etc., in name of Board.39. Power of Board or trustees of charity to purchase sites for buildings from owners under disability according to Lands Clauses Consolidation Act, 1845.40. Validity of sales, etc., authorised by Board.41. Power of Board to give effectual receipt of payments for charitable purposes where no person available or competent to do so.42. Power of Board to require copies of public documents relating to charities and to examine and search records.43. Power of Board to appoint new trustees of charity.44. Taxation of solicitor's costs.Part III Miscellaneous Provisions in Relation to Charities (ss. 45-59)45. Gifts for the advancement of religion.46. Schemes to establish common investment funds.47. Occasions for applying property cy-près.48. Application cy-près of gifts of donors unknown or disclaiming.49. Construction of gifts for mixed purposes.50. Gifts for graves and memorials.51. Power to apply to High Court for directions.52. Duty of executors to publish advertisements of charitable devises and bequests if required by Board.53. Notice of legal proceedings to be given to Board.54. Deeds, etc., may be deposited by trustees of charity in repository provided by Board.55. Power of majority of two-thirds of trustees to deal with charity property.56. Provision in relation to bodies corporate acting as sole trustees in certain cases.57. Resignation of member of governing body of charitable foundation and filling of vacancy.58. Probate Officer to make annual return to Board of charitable devises and bequests.59. Power to meet a particular deficit.Schedule - Repeals
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 July 1961 - onwards
Version 2 of 2

38. Investment of proceeds of sale, etc., in name of Board.

The Board may, in relation to money arising from any transaction to which, section 34, 35 or 37 applies, direct the trustees to pay the money to the Board and, in that case, the money shall be invested by the Board for the benefit of the charity in such manner as the Board think fit.

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