Simple Activesheet.paste will not work (Runtime 1004 error)

Hi all.
A macro that used to work is now throwing a Runtime 1004 error (Office 2013)
I've reinstalled Excel and wrote a very simple macro, but still same error:

Sub Macro1()
    ActiveSheet.ChartObjects("Chart 1").Activate
    ActiveChart.ChartArea.Copy
    Range("D5").Select
    ActiveSheet.Paste
End Sub

Funny thing is, F8 will advance the code once it's entered debug state.

Any ideas?