AMENDMENT: Change in wording.
Unless the powers of investment are specified in the formal Trust Instrument creating or governing any given Group, District or County, such powers of investment are governed by the Trustee Act 2000. Accordingly, The Scout Association's own particular powers of investment are specified by its Royal Charter. These particular powers of investment apply to The Scout Association itself and not to its entire member Groups, Districts or Counties.
Group, District and County Treasurers must reclaim from H.M. Revenue and Customs any tax deducted at source from investment income.
They are advised to make full use of those special Funds, established for investment by charities, which pay dividends gross.
Investments held on behalf of Groups, Districts or Counties must be registered in such a way as to show that they are held on trust for that body and that they are not the private property of the individuals (if any) appointed as trustees.
