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Charitable Incorporated Organisations (CIOs) Legal Considerations. Catherine Rustomji, Head of Third Sector North – Hempsons. Agenda. What is the CIO? Detail Where are we now? Timescale. What is the CIO?. New legal form Exclusively for charities Single regulator

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Charitable incorporated organisations cios legal considerations

Charitable Incorporated Organisations (CIOs) Legal Considerations

Catherine Rustomji,

Head of Third Sector North – Hempsons


Agenda
Agenda

  • What is the CIO?

  • Detail

  • Where are we now?

  • Timescale


What is the cio
What is the CIO?

  • New legal form

  • Exclusively for charities

  • Single regulator

  • 2 forms - Foundation CIO & Association CIO


Types of cio
Types of CIO

  • Foundation CIO

    - Members & Trustees are the same

  • Association CIO

    - Members & Trustees are different


Detail record keeping
Detail – record-keeping

  • Register of Trustees

  • Register of Members

  • Right to inspect and require copies

  • Charges over CIO property

    • Register of charges

    • Charity Commission notification


Detail model constitutions
Detail – model constitutions

  • Form specified in Regulations

  • Two model forms

    (required provisions vs best practice)

  • Future – sector-specific models


Advantages of cio
Advantages of CIO

  • Single registration

  • Simpler reporting requirements

  • Simpler filing requirements

  • Lower costs

  • Simpler constitutional forms

  • Greater constitutional flexibility


Additional requirements for cios
Additional requirements for CIOs

  • Registers of trustees and members

  • Register of any charges over assets

  • Submission of accounts and annual returns

  • Notification of certain property changes

  • Criminal offences for non-compliance


Where are we now
Where are we now?

  • Consultation ended December 08

  • Results published September 09

  • Revised Constitutions & regulations ?


Timescale
Timescale

  • Spring 2010 …..

  • 2011…..

  • Unincorporated charities

  • Guinea pigs?

  • Conversion


Catherine Rustomji

01423 724105 or 0191 230 0669

[email protected]


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