The fund operated as an unincorporated Trust until 2014 when, following a review of its activities, the trustees decided that the charity should be incorporated as a charitable company limited by guarantee as this would: 

  • give the charity a legal personality; and 
  • enable it to operate more effectively.

The unincorporated trust continues to exist as a charity and has been registered with the Charity Commission for England and Wales, registration number 222595, since 1964.

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Objectives and activities

The principal object of the Fund is to raise and maintain a fund for the purpose of assisting persons in need who are, or have been, members of ACCA or related organisations and their families and dependants. The trustees are also empowered to assist other charitable institutions as they see fit.

All operational activities are undertaken by the charitable company, although the unincorporated trust will continue to exist for legacy purposes and until the trustees are satisfied that all the assets and liabilities have been transferred to the charitable company. 

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Fund trustees

Under the Articles of Association of the Fund, the trustees must be members of the charity and there must be at least five and no more than fifteen members at any time.

One third of trustees will retire annually by rotation and will be available for re-election provided they have not completed nine years as a trustee of the Fund.

The principal policy adopted by the trustees to further the objects of the Fund has been, and continues to be, to make grants in order to supplement other income and to provide some comforts which would not otherwise be available.

In addition, to enable members and dependants to remain in their properties, the trustee can make loans, normally secured on the properties, towards the cost of major renovations, improvements etc.

These loans are normally at a low rate of interest to cover the legal costs and are repayable either when the property is sold or after the death of a survivor.

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Disaster fund

The Fund has a designated disaster fund through which it has helped members and their families impacted by natural disasters such as the Nepal earthquakes, the Bahamas and Caribbean  hurricanes, Kerala floods in India and more recently Covid-19 pandemic and the St Vincent volcano eruption.

The Fund is able to fund these activities because of grants, subscriptions, donations and legacies, as well as the income from a diversified portfolio of long term, high yielding, government securities and holdings which enable funds to be made available to meet anticipated short term needs.

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Global reach

Over the past four years the Fund has helped beneficiaries in the following countries and regions around the world:

  • Anguila
  • Bahamas
  • Bangladesh
  • British Virgin Islands
  • Canada
  • Dominica
  • Ghana
  • India
  • Ireland
  • Kenya
  • Lithuania
  • Malawi
  • Malaysia
  • Mauritius
  • Nepal
  • Nigeria
  • Oman
  • Pakistan
  • Romania
  • South Africa
  • Sri Lanka
  • St Vincent and the Grenadines
  • Trinidad and Tobago
  • United Arab Emirates
  • United Kingdom
  • USA
  • Zambia, and
  • Zimbabwe.

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Fund management and administration

The investment portfolio is managed by professional fund managers.

The Fund's administration, including legal advice, is provided, free of charge, by ACCA; the trustees also devote time to the Fund's affairs and receive no remuneration. Other than this, the Fund is not dependent on the services of volunteers or on donations in kind.

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Find out more

For more information, including a copy of the Benevolent Fund’s Memorandum and Articles of Association, see the ‘Related downloads’ section of this page or read our FAQs.

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