As at 1 November 2012, the Charities Restricted Funds Re-organisation (Scotland) Regulations 2012 came into effect. Do you know what a restricted fund is and what it means for your charitable organisation?
The Regulations define 'restricted fund' as property (including money) given to a charity for a specific purpose and in respect of which conditions have been imposed as to its use?.
Examples as provided by the Office of the Scottish Charity Regulator (OSCR) of such restricted funds are:-
- A charity receiving a sum of