A 5th of Charities are SCIOs
Posted: Tuesday 13 December 2011
As recently reported by Civil Society, around a fifth of all new charities in Scotland are now applying to be registered as Scottish Charitable Incorporated Organisations.
OSCR, the Scottish regulator, has confirmed that since the new legal form was implemented on 1 April, its uptake has gradually increased to the point where around 20% of new registrants are choosing the SCIO format.
Lauren Scott, Morton Fraser’s Charity Law expert, commented: “"we have been reporting regularly on the implementation of the new rules on Scottish Charitable Incorporated Organisations and it is interesting to read the statistics on take-up. SCIOs are clearly a popular option for new charities, and some existing ones are obviously taking the opportunity to convert. Bear in mind that it is only from January 2012 that companies will be able to convert (at the moment, only unincorporated associations and friendly societies can do so).
We are already seeing a steady stream of enquiries coming to us regarding both the incorporation of new SCIOs and the conversion of unincorporated charities to SCIOs, and we expect enquiries to increase from January."
If you would like to discuss the new rules on Scottish Charitable Incorporated Organisations and what it could mean for your charity, contact Lauren Scott.
