At Morton Fraser we have highlighted clarity as our guiding principle.
This directs the way we communicate, the way we advise, the way we conduct relationships with our clients and the way we are totally transparent and upfront about our charges. This applies to all our services from the straightforward to the more complex.
Charity trustees have a number of legally binding duties imposed upon them under the Charities and Trustee Investment (Scotland) Act 2005, Companies Acts, Regulations and common law.
The law imposes the following general duties on charity trustees:
1. You must act in the interests of the charity and its beneficiaries
a. You must seek, in good faith, to ensure that the charity operates in a manner consistent with its chartable purposes.
b. You must act with the care and diligence that is reasonable to expect of a person who is managing the affairs of another person.
c. You must manage any conflict of interest between the charity and any person or organisation who appoints trustees. In other words, you should put the interests of the charity before those of the person appointing you.
The 2005 Act imposes the following specific duties on charity trustees
Duty to provide and update your charity's details on the Scottish Charity Register, such as the name and principal office of the lead charity trustee, and the charity's purposes.
Duty to report any changes to OSCR and seek OSCRs consent where required, such as change of name, change in charitable purposes or seeking to wind up the charitable organisation.
Duty to keep accounts and provide OSCR with a copy
Duty to fundraise to ensure that the charity can implement its charity's purposes
Duty to provide information to the public, such as providing the charity's name and Scottish Charity Number on all external documents, correspondence and webpages. You must also provide a copy of your governing documents and/or audited accounts to anyone who asks for them.