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A Scottish charitable incorporated organisation (SCIO) is a corporate form of business designed for (and only available to) charitable organisations in Scotland, similar to (but with important differences from) a charitable incorporated organisation in England and Wales. [1]
CIO status is conferred by the Office of the Scottish Charity Regulator on application by a charity, whether new or existing.
The main benefits of the form are that the charity has legal personality (the ability to enter contracts, sue and be sued, and to hold property in its own name - rather than in the name of its trustees), and its members have limited liability (their liability in the event the charity becomes insolvent is limited or nil).
Gareth G Morgan of Schulich School of Business at York University says:
the development of CIOs has taken a different path with far greater jurisdictional differences than would be needed simply to accommodate the different legal systems... in Scotland the emphasis seems to have been on simplicity and pragmatism, whilst in England and Wales the focus appears to be more on retaining corporate parallels with company law. These differences are particularly evident in the vastly different insolvency regimes, and in the order of magnitude difference in the detail of the secondary legislation. [1]
The Scottish regulator began registering SCIOs in April 2011, [2] and a fifth of new Scottish charities registered by December of that year were SCIOs. To spread the workload for the regulator, existing charitable companies and industrial and provident societies were unable to convert to SCIOs until 2012; other forms of charity in Scotland were able to apply from April 2011. [3]
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity and recognized as such in law for certain purposes. Early incorporated entities were established by charter. Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue stock, or whether they are formed to make a profit. Depending on the number of owners, a corporation can be classified as aggregate or sole.
A public limited company is a type of public company under United Kingdom company law, some Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public, with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called publicly traded companies. Public limited companies will also have a separate legal identity.
Trustee is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also be a person who is allowed to do certain tasks but not able to gain income. Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government.
Companies House is the executive agency of the British Government that maintains the register of companies, employs the company registrars and is responsible for incorporating all forms of companies in the United Kingdom.
Corporate law is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. Corporate law often describes the law relating to matters which derive directly from the life-cycle of a corporation. It thus encompasses the formation, funding, governance, and death of a corporation.
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being.
A community interest company is a form of social enterprise in the United Kingdom intended "for people wishing to establish businesses which trade with a social purpose..., or to carry on other activities for the benefit of the community".
Laws regulating nonprofit organizations, nonprofit corporations, non-governmental organizations, and voluntary associations vary in different jurisdictions. They all play a critical role in addressing social, economic, and environmental issues. These organizations operate under specific legal frameworks that are regulated by the respective jurisdictions in which they operate.
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as:
A company limited by guarantee (CLG) is a type of corporation where the company has no share capital. Members instead act as guarantors of the company's liabilities: each member undertakes to contribute an amount specified in the articles in the event of insolvency or of the winding up of the company.
The Charity Commission for Northern Ireland is the independent regulator of Northern Ireland charities. It was established in 2009 under the Charities Act (NI) 2008.
The British Association for Adoption and Fostering (BAAF) was a membership association formed in 1980 and a registered charity. Membership was open to organisations and individuals concerned with child adoption and fostering. Corporate members included local authorities, independent fostering agencies, voluntary adoption agencies, NHS trusts, law firms and voluntary organisations. Individual members included social workers, health professionals, law professionals, adopters and foster carers. BAAF's 2013–14 annual review reported a corporate membership of more than 450 and 1400 individual members.
A voluntary group or union is a group of individuals who enter into an agreement, usually as volunteers, to form a body to accomplish a purpose. Common examples include trade associations, trade unions, learned societies, professional associations, and environmental groups.
A private company limited by shares is a class of private limited company incorporated under the laws of England and Wales, Hong Kong, Northern Ireland, Scotland, certain Commonwealth jurisdictions and the Republic of Ireland. It has shareholders with limited liability and its shares may not be offered to the general public, unlike those of a public limited company.
A charitable incorporated organisation (CIO) is a corporate form of business designed for charitable organisations in England and Wales. A similar form, with minor differences, exists for Scottish charities.
Healthy Planet Foundation was an environmental charity in the United Kingdom formed in 2007 by Shaylesh Patel, on the ethos that small changes together will build sustainable, healthy communities leaving a positive legacy for future generations. Healthy Planet championed grassroots and green causes that promoted healthy living.
The British Virgin Islands company law is the law that governs businesses registered in the British Virgin Islands. It is primarily codified through the BVI Business Companies Act, 2004, and to a lesser extent by the Insolvency Act, 2003 and by the Securities and Investment Business Act, 2010. The British Virgin Islands has approximately 30 registered companies per head of population, which is likely the highest ratio of any country in the world. Annual company registration fees provide a significant part of Government revenue in the British Virgin Islands, which accounts for the comparative lack of other taxation. This might explain why company law forms a much more prominent part of the law of the British Virgin Islands when compared to countries of similar size.
Cayman Islands company law is primarily codified in the Companies Law and the Limited Liability Companies Law, 2016, and to a lesser extent in the Securities and Investment Business Law. The Cayman Islands is a leading offshore financial centre, and financial services form a significant part of the economy of the Cayman Islands. Accordingly company law forms a much more prominent part of the law of the Cayman Islands than might otherwise be expected.
Anguillan company law is primarily codified in three principal statutes:
The Co-operative and Community Benefit Societies Act 2014 (c.14) is an Act of the Parliament of the United Kingdom. It consolidates existing legislation relating to industrial and provident societies, as well as introducing some reforms.
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