Glen Urquhart Childcare Centre
Glen Urquhart Childcare Centre switches to the new legal form after it became available for existing organisations in January
A Scottish childcare organisation has become the first charity to convert to the charitable incorporated organisation legal form.
The Office of the Scottish Charity Regulator announced the conversion of Glen Urquhart Childcare Centre yesterday.
A Scottish charitable incorporated organisation is a new legal form that provides protection against liability for trustees while having fewer reporting requirements than a company.
The regulator has given SCIO status to 215 new charities since the legal form was introduced in Scotland in April 2011. Glen Urquhart Childcare Centre is the first existing charity to convert since SCIO status became available for existing organisations in January.
The launch of charitable incorporated organisations in England has been repeatedly delayed since the form was brought in by the Charities Act 2006.
Arlene Johnstone, board director at Glen Urquhart Childcare Centre, said: "We now have the reassurance of continued protection against personal liability, along with reduced reporting. As a company limited by guarantee, we were required to report both to Companies House and to the OSCR as charity regulator. We accept as a SCIO that there are new responsibilities, but reporting only to the OSCR means that we can focus on providing our services to the local community."
Martin Tyson, head of charity services at the OSCR, said: "The SCIO legal form was keenly awaited in Scotland's charity sector and we continue to see a high level of demand. The SCIO legal form offers a number of benefits, but it's also important that for those seeking conversion to read our guidance and to satisfy themselves that the SCIO is appropriate for their organisation."
