Advancement of education definition

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Esg and impact investing—Mauritius—Q&A guide

Esg and impact investing—Mauritius—Q&A guide This Practice Note contains a jurisdiction-specific Q&A guide to esg and impact investing in Mauritius published as part of the Lexology Getting the Deal Through series by Law Business Research (published: May 2021). Authors: Bowmans—Fazil Hossenkhan; Nafiisah Jeehoo; Devarshi Ramburn 1. Has your jurisdiction enacted any primary or secondary legislation addressing environmental, social and governance (ESG) factors in banking, finance and corporate law, or legislation addressing the pursuit of other non-financial objectives by companies and investors? Principles of ESG factors are not incorporated in Mauritius whether in banking, finance or corporate law, nor is there any Mauritius legislation addressing the pursuit of other non-financial objectives by companies or investors. There is a corporate social responsibility (CSR) programme in place under which profitable local companies have an obligation to allocate 2 per cent of their book profits to CSR activities. A CSR programme is defined, under section 2 of the Mauritius Income Tax Act, as a programme having, as its main objective, the alleviation of poverty, the relief of sickness or disability, the advancement of education of vulnerable persons or the promotion of any other public object beneficial to the Mauritian community. Furthermore, a national Code of Corporate Governance (the Code) was issued in 2016. The Code provides a set of principles and recommendations aimed at improving governance practices in businesses in the country. The Code is

Charitable status

Charitable status FORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a staggered basis between now and Autumn 2023. CA 2022 will implement the majority of the recommendations from the 2017 Law Commission report, ‘Technical Issues in Charity Law’. For a summary of the recommendations that have been accepted, see News Analysis: Government response to Law Commission report ‘Technical Issues in Charity Law’. For further guidance on the implementation of CA 2022, see News Analysis: Charities Act 2022—what do we know so far?. Of particular relevance to this Practice Note are the changes relating to the ability to change the objects of a charity. The position set out below in relation to this subject may be affected by the implementation of CA 2022. Charity definition For the purposes of the law in England and Wales, charity means an organisation established for charitable purposes only and falls to be subject to the control of the High Court in the exercise of its jurisdiction with respect to charities. Charitable purpose is a purpose which falls within subsection 3(1) of the Charities Act 2011 (CA 2011) and is for the public benefit. Charitable purpose CA 2011, s 2 defines a charitable purpose as one that falls within a list of thirteen descriptions of purposes in CA 2011, s 3 and is for the public

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Does the definition of 'Charity' in Northern Ireland vary from the definition in England & Wales, eg in section 1 of the Charities Act 2011?

Does the definition of 'Charity' in Northern Ireland vary from the definition in England & Wales, eg in section 1 of the Charities Act 2011? In England and Wales, the definition of ‘Charity’ is governed by section 1 of the Charities Act 2011 (CA 2011). It provides that a charity means an institution which is established for charitable purposes only and is subject to the control of the High Court in the exercise of its jurisdiction in respect to charities. In other words, the institution must be established for purposes which are exclusively charitable and is subject to the control of the Chancery Division of the High Court of England and Wales (eg in relation to cy-pres schemes). Unless the context otherwise admits, an institution for these purposes means an institution whether incorporated or not, and includes a trust or undertaking (CA 2011, s 9(3)(4)). In practice charities are structured as either trusts, unincorporated organisations, unincorporated associations or charitable companies. By CA 2011, s 2, charitable purposes means purposes which are for the public benefit and fall within any of the descriptions in CA 2011, s 3, namely: • the prevention or relief of poverty • the advancement of education • the advancement of religion • the advancement of health or the saving of lives • the advancement of citizenship or community development • the advancement of the arts, culture, heritage or science • the

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144 Residuary gifts

Testators frequently specify the nature and extent of any specific legacies to individual beneficiaries and leave the residue1 to one or more named charities. This has superficial attractions at a time when the value of money is stable and the value of each specific gift is unlikely, therefore, to alter substantially. It is generally less suitable, however, at a time of high inflation or where there is the possibility that the value of the testator’s estate will increase considerably between the date of the will and the date of death.

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21. Advancement of education for the public benefit.

21.     Advancement of education for the public benefit. A purpose which falls within the statutory description of the advancement of education must additionally, if it is to be charitable, be for the public benefit1. The questions whether a purpose is educational, and whether education of a particular description is for the public benefit, are matters for decision by the court on the evidence before it2. Where a purpose of a particular description has been previously held or accepted to be for the advancement of education for the public benefit, the court may not require formal