Equity; cy-pres questionWatch this thread
I have a quick question concerning the Charities Act 2011. When concerning a problem question on cy-pres, where the charitable purpose has been completed with surplus funds left over, would you use:
♣ s. 62(1)(a)(i) – the purpose has been fulfilled as far as possible; or
♣ s. 62(1)(b) – the purpose only provides for use of part of the gift
to justify the application of cy-pres?
I found a journal article which said that surplus funds fall under the latter, but my interpretation would say it is the former.
Thanks in advance!