F4Part 1Charities

Annotations:
Amendments (Textual)
F4

Pt. 1 Ch. 5A inserted (1.10.2010 for specified purposes, 1.11.2012 in so far as not already in force) by Public Services Reform (Scotland) Act 2010 (asp 8), ss. 125(1), 134(7); S.S.I. 2010/321, art. 3, Sch.; S.S.I. 2012/218, art. 2

Chapter 7Scottish charitable incorporated organisations

Conversion, amalgamation and transfer

I158Conversion: supplementary

1

If OSCR grants an application for conversion, it must—

a

enter the SCIO in the Register,

b

send to the appropriate registrar a copy of each of the resolutions of the converting company or registered society referred to in section 56(5) and a copy of the entry in the Register relating to the SCIO, and

c

once the SCIO's constitution as a SCIO has taken effect, remove from the Register the entry for the converting company or registered society.

2

The entry for the SCIO in the Register must, for so long as its constitution as a SCIO has not yet taken effect, include a note stating that fact.

3

If the appropriate registrar—

a

registers the documents sent under subsection (1)(b), and

b

cancels the registration of the company under F3the Companies Act 2006, or of the society under the Industrial and Provident Societies Act 1965 (c. 12),

subsections (4) and (5) apply.

4

The company or registered society is by virtue of this subsection converted into a SCIO, being a body corporate—

a

whose constitution is that proposed in the application for conversion,

b

whose name is that specified in the constitution, and

c

whose first members are the members of the converting company or society immediately before the moment of conversion.

5

All property, rights and liabilities of the converting company or registered society become by virtue of this subsection the property, rights and liabilities of the SCIO.

6

The entry for the SCIO in the Register must include—

a

a note stating that the charity is constituted as a SCIO,

b

the date on which it became so constituted, and

c

a note of the name of the company or society which was converted into the SCIO.

7

In section 57 and in this section, the “appropriate registrar” means—

a

in the case of an application for conversion by a company, the registrar of companies F2...,

b

in the case of an application for conversion by a registered society, the F1 Financial Conduct Authority .