- Published on
Legal Terms - doctrine cy-près (french for cy, here, and près, close)
a theory that permits a donation to charity under certain conditions that would not allow it to be transferred to another relevant charitable purpose. The court or the Charity Commissioners may devise a plan for charitable giving, for instance, if the funds provided are more than sufficient to fulfill the aim or if the charitable donation cannot be used for the particular purpose intended.
the money to be used for a philanthropic endeavor that closely resembles the initial one. Cy-près will function automatically in the event that the donation fails after it has taken effect. A court's interpretation of the settlor's intention will determine how the concept is applied if a gift is rejected at the outset; in order to apply the money cy-près, a broad benevolent intention must be discovered. Section 6 of the Charities Act of 2011 governs applications for cy-près schemes
a theory that permits a donation to charity under certain conditions that would not allow it to be transferred to another relevant charitable purpose. The court or the Charity Commissioners may devise a plan for charitable giving, for instance, if the funds provided are more than sufficient to fulfill the aim or if the charitable donation cannot be used for the particular purpose intended.
the money to be used for a philanthropic endeavor that closely resembles the initial one. Cy-près will function automatically in the event that the donation fails after it has taken effect. A court's interpretation of the settlor's intention will determine how the concept is applied if a gift is rejected at the outset; in order to apply the money cy-près, a broad benevolent intention must be discovered. Section 6 of the Charities Act of 2011 governs applications for cy-près schemes
0 Comments