Secondary legislation on Charitable Incorporated Organisations

Minister for Civil Society, Nick Hurd MP has published a Written Ministerial Statement, which can be downloaded here, setting out the proposed timetable for implementation of the Charitable Incorporated Organisations (CIO), subject to Parliamentary approval of the draft Statutory Instruments.

CIO is a new legal structure designed specifically and only for charities, which will offer the benefits of limited liability making it easier to recruit and retain trustees, and legal personality making it easier to hold property and enter contracts. However unlike the current incorporated option of the company structure, CIOs will be solely registered with and regulated by the Charity Commission, meaning a reduction in regulation for charities that want the benefits of incorporation.

For further information on CIOs visit www.charitycommission.gov.uk/Start_up_a_charity/Do_I_need_to_register/CIOs/default.aspx and www.cabinetoffice.gov.uk/resource-library/charitable-incorporated-organisation-cio-secondary-legislation-parliament.