Agenda item

GENERAL PURPOSES COMMITTEE OF ALDERMEN

(i) Options for the closure of the Charity: Emanuel Hospital (206952)

To consider, as Trustees of the Emanuel Hospital charity (206952), recommendations of the General Purposes Committee of Aldermen in respect of the closure of the charity.

Resolved:- That –

(i) the annual pension to existing pensioners be increased to £1,600 from 1 April 2017;

(ii) it is expedient and in the best interests of Emanuel Hospital and its beneficiaries that trusteeship of the Charity should be transferred to Friends of the Elderly, or alternatively the charitable objects of the charity should be widened by scheme and its assets should be transferred to Friends of the Elderly (either subject to or freed from the current permanent endowment restrictions) and the Emanuel Hospital charity closed;

(iii) all investments held in The City of London Charities Pool be sold and authority delegated to the Chamberlain to take all actions necessary to give effect to this decision; and

(iv) authority be delegated to the Comptroller and City Solicitor to act on the charity’s behalf with the Charity Commission, and to settle the basis and terms of the transfer of Emanuel Hospital with Friends of the Elderly, including carrying out any due diligence on Friends of the Elderly to ensure that it is a suitable recipient, with any further decisions arising being referred back to the Court of Aldermen.