Delay in registering companies as CIOsPrint publication
Although no definite date was given for the regulations under the Charities Act 2011 enabling charitable companies to convert to a Charitable Incorporated Organisation (CIO) these were expected “early 2014”. The Charity Commission has now revealed there will be a delay. Whilst there is no date set, the Office for the Civil Society (the body charged with making the regulations) has said the date will be later this year.
A CIO is an incorporated form of charity which is not a company. It has the benefit of only having to register with the Charity Commission and not Companies House (unlike a charitable company which must register with both). It has its own legal personality (and therefore can enter into contracts in its own right) and its trustees have the benefit of limited liability.
For further information about CIOs and whether they are the right structure for your organisation, take a look at our article on CIOs