Community Interest Companies: changes to encourage investment
The CIC Regulator has responded to the consultation on the dividend and interest cap for CIC’s. The Regulator concludes that:
New regulations have been made by the government in relation to contracts with consumers. These new rules will come into force on 13 June 2014, and cover:
The Charity Commission has published new regulations and guidance for trustees on adopting a total return approach to the investment of the charity’s permanent endowment. New legislation, which came into effect on 1 January 2014, will allow the trustees of permanently endowed trusts to adopt a total return approach to investment without seeking prior permission from the Commission.
The Centre for Social Justice has published its much anticipated report on the state of the charity sector following a major national survey: ‘Something’s Got To Give: The state of Britain’s voluntary and community sector’. One interesting conclusion is that the government should use dynamic smaller organisations to target social issues, rather than spending ever larger sums through its existing ‘favourites’.
Many English-based charities conduct some activity in Scotland or have a registered presence there. Although the vote on Scottish Independence is not until September 2014, charities who may be substantially affected should starting planning now. Potential issues include: