13 June 2018
The regulations allowing the incorporation of CIOs have been approved by Parliament and the Charity Commission is now accepting applications for new CIOs from newly established organisations having a projected annual income in excess of £5,000. Successful applicants will join the Register of Charities from 3 January 2013.
The Charity Commission’s advice is that a CIO will be an appropriate structure for small or medium sized charities which employ staff and which enter into contracts.
The Commission has a staged timetable for existing unincorporated charities to apply to convert to become CIOs. The details of this timetable were reported in the previous Withers article.
This timetable is indicative and subject to change and the Charity Commission has stressed that anyone considering registering a CIO should check the Commission’s website for any updates.
Applications will be opened for existing charitable companies to convert to a CIO during 2014 but this will require Parliamentary approval of further regulations.
If you would like more information about CIOs please contact Chris Priestley.