Related Commentary  

561(1)  A loan is an approved charitable loan for the purposes of section 543 (meaning of “non-charitable expenditure” ) if it meets conditions A and B.

561(2)  Condition A is that the loan is not made by way of investment.

561(3)  Condition B is that either–

(a)the loan is made to another charity for charitable purposes only,

(b)it is made to a beneficiary of the charitable trust in the course of carrying out the purposes of the charitable trust,

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