Legislation to enable quick conversion to CIO status put before parliament

It will allow community interest companies and charities with company structures to quickly convert into charitable incorporated organisations

Legislation to allow charities and community interest companies to quickly convert to charitable incorporated organisations has been put before parliament, the Department for Digital, Culture, Media and Sport has announced.

CIOs were included in the Charities Act 2006 and were introduced as a new legal structure in 2013 after significant delays.

They allow charities to enter into contracts as corporate entities with limited liability for trustees and members.

A draft Charitable Incorporated Organisations (Consequential Amendments) Order 2017 has been laid before parliament for approval.

The new legislation will allow community interest companies and charities with company structures to quickly convert into CIOs from January. 

Charities taking up CIO status do not need to register with Companies House or be subject to company law, but are registered with and regulated by the Charity Commission

If approved, it is expected the first conversions could happen as soon as January 2018.

More than 12,500 new CIOs have been registered with the Charity Commission since 2013.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in
Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

Latest Governance Jobs

RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners

Markel

Expert Hub

Insurance advice from Markel

Safeguarding in the Third Sector

Safeguarding in the Third Sector

Partner Content: Presented By Markel

Safeguarding - the process of making sure that children and vulnerable adults are protected from harm - is a big concern for organisations in the third sector.