893:
and long-term grant agreements to the new legal entity and subsequently closed due to reduced levels of funding. Another charity converted but then reverted to its old status because of the cost and inconvenience of changing its registration number. As of May 2019, there were over 17,000 CIOs registered with the
Charity Commission for England and Wales.
50:
892:
The
Charity Commission in England and Wales began publishing guidance in May 2011. On 4 March 2013, for the first time, the Commission enabled an existing charity, Challenge to Change, to convert from a charitable trust to a CIO. The charity later reported some difficulties in transferring assets
815:
accounts usually required. But one disadvantage of the form for larger charities is that, unlike for charitable companies, there is no public register of lenders' charges over the corporation's assets, and this can make it harder to arrange finance. A CIO is also unable to grant a floating charge
819:
Almost any existing charity, including charitable companies, can apply to "convert" to a CIO. Strictly speaking the CIO is a new entity, and there is no continuity of legal personality with the former charity. (Despite a natural reading of
Chapter Four of the
858:, and was taken forward by Lindsay Driscoll who was the Head of Legal and Governance at NCVO. A Charity Commission advisory group was set up in 2000 to look at the incorporation of charities, and recommended a new form of legal entity. In 2001 the
888:
Implementation in
England and Wales has been phased, starting in 2013 with brand new charities, followed by conversions of existing unincorporated charities according to income, and then followed by charitable companies.
877:
Primary legislation to introduce the CIO as a new legal form of incorporation was included in the
Charities Bill in 2004, and this aspect of the bill was particularly welcomed by charities. It was finally enacted in the
1385:
824:, this is true even where the precursor charity is a charitable company.) This can have profound effects on the continuity of business, and can be a disincentive to conversion.
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In addition, (and uniquely among limited liability corporations in the UK), smaller CIOs in
England and Wales can opt to file receipts and payments accounts, rather than the
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The
Charity Commission opened a consultation on draft documentation and regulations in 2008, raising a large number of difficulties and suggested improvements.
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770:(the Charity Commission). The application is by the proposed members of the CIO. Usually these are also the proposed trustees, but this is not a requirement.
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The CIO status became available to charities in
England and Wales on 4 March 2013, based on The Charities Act 2011. In Scotland, the
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There is currently no means of converting a CIO to any other legal form – although it could be wound up and its assets transferred.
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A CIO comes into being (is "constituted") once it is registered as such by the
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Guidance from the
Scottish Charity Regulator on setting up a SCIO in Scotland
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The main benefits of the CIO form are that the charity is a corporation with
1077:. London: Association of Chartered Certified Accountants. 2018. p. 6.
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1287:"Challenge to Change is the first existing charity to use CIO legal form"
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805:
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1382:, Government guidance for England and Wales, The Charity Commission
49:
1235:"Charitable Incorporated Organisation delayed until next year"
308:
Charitable incorporated organisation (England and Wales)
788:, and thus many charities chose to incorporate as charitable
1360:"Advanced search for "charitable incorporated organisation""
1153:"The Scottish Charitable Incorporated Organisations (SCIOs)"
862:'s company law review steering group likewise recommended a
850:
The idea originated in 1992 with the Chief
Executive of the
792:. However, this requires registration and filing with both
1075:
Technical factsheet: Charitable incorporated organisations
1111:"Constitution of a Charitable Incorporated Organisation"
754:. A similar form, with minor differences, exists for
784:Historically these benefits were only available to
746:of business designed for (and only available to)
1179:"New guidelines to benefit the voluntary sector"
1005:"Trustees of charities – is CIO status for you?"
841:Scottish charitable incorporated organisations
316:Scottish charitable incorporated organisation
1335:"New CIO applies to revert to charity status"
1045:"Q&A: what's in the draft charities bill"
715:
8:
852:National Council for Voluntary Organisations
1137:: CS1 maint: numeric names: authors list (
1028:: CS1 maint: numeric names: authors list (
1388:, Charity Commission for England and Wales
1261:"Hurd takes CIO legislation to Parliament"
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232:
28:
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1386:Change your charity structure: Checklist
1380:Charity types: how to choose a structure
1364:Charity Commission for England and Wales
870:is aimed at the commercial sector, with
837:Office of the Scottish Charity Regulator
768:Charity Commission for England and Wales
920:
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235:
40:
1314:. Challenge to Change. 5 December 2014
1205:FitzHerbert, Luke (21 December 2004).
1177:McCurry, Patrick (19 September 2001).
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1021:
417:Limited liability limited partnership
332:Industrial and provident society
1434:Charities based in the United Kingdom
514:Gesellschaft mit beschränkter Haftung
7:
1439:Social economy in the United Kingdom
1069:
1067:
940:(1). Walter de Gruyter GmbH: 25–44.
864:charitable incorporated organisation
736:charitable incorporated organisation
18:Charitable Incorporated Organization
1259:Young, Niki May (31 October 2012).
928:Morgan, Gareth G. (1 April 2015).
25:
866:with a separate legal regime, as
1312:"Closure of Challenge to Change"
1233:Mason, Tania (12 October 2011).
1003:sozo_QXY3483XA (26 March 2015).
860:Department of Trade and Industry
559:Société à responsabilité limitée
48:
1414:2011 establishments in Scotland
1285:Ricketts, Andy (5 March 2013).
978:"Chapter 1, Charities Act 2011"
1419:2013 establishments in England
790:companies limited by guarantee
1:
1043:Shrifin, Tash (2 June 2004).
1424:2013 establishments in Wales
1333:Mason, Tania (31 May 2013).
441:Massachusetts business trust
628:Piercing the corporate veil
324:Community interest company
299:UK / Ireland / Commonwealth
287:Economic interest grouping
1465:
1449:United Kingdom company law
903:Community interest company
397:Limited liability company
1397:11 September 2011 at the
909:Community benefit society
608:Internal affairs doctrine
603:and estoppel corporations
1444:Types of business entity
748:charitable organisations
32:This article is part of
278:Societas unius personae
140:General corporate forms
934:Nonprofit Policy Forum
804:. This aims to reduce
590:Business judgment rule
947:10.1515/npf-2014-0035
534:Naamloze vennootschap
524:Kabushiki gaisha
341:Limited company
1109:Charities Act 2012.
1089:"Charities Act 2011"
872:corporate governance
658:Beneficial ownership
595:Corporate governance
431:Delaware corporation
258:Societas cooperativa
1157:Scottish Government
673:Corporate registers
633:Rochdale Principles
387:Benefit corporation
213:Sole proprietorship
982:legislation.gov.uk
880:Charities Act 2006
847:s) in April 2011.
839:began registering
822:Charities Act 2011
808:for the charity.
802:Charity Commission
798:Charity Commission
756:Scottish charities
474:Aktiengesellschaft
446:Nevada corporation
1207:"All to play for"
816:over its assets.
786:limited companies
779:limited liability
775:legal personality
752:England and Wales
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897:See also
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796:and the
762:Overview
668:Contract
601:De facto
433: /
247:Societas
65:Anguilla
34:a series
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1009:Willans
831:History
742:) is a
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75:BVI
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