At long last, the necessary legislative changes have been made to allow Charitable Companies (should they so wish) to be converted into Charitable Incorporated Organisations (CIO's). I say at long last because this was first mooted under the Charities Act 2011 so it has taken over 6 years just to get to this stage!
Needless today being charity law, it is never straightforward and so the timing of your charitable company being able to do this will be phased in from 1st January to 1st August 2018 and beyond depending on on the size of your charity.
The smallest, having income of less than £12,500 will be eligible first, but those charities with income exceeding £500,000 will have to wait until after 1 August 2018. As part of the process, the new CIO's Constitution and a Special Resolution will need to be included before submission to the Charity Commission. Full details are contained in a press release this morning (28 November 2017) which can be found on the Charity Commission Website.This includes advice re certain "sensitive words or expressions" in their proposed name
Incorporated charities will not be forced to convert and may adhere to the current regime of filing both with the Charity Commission and Companies House but others will consider converting to the CIO so called "lighter touch" regime. Either way, whether you are seeking to convert or not, this may be a golden opportunity to review your current constitution to ensure that it is fit for purpose.