F1 Part 1 S Charities

Textual Amendments

F1 Pt. 1 Ch. 5A inserted (1.10.2010 for specified purposes, 1.11.2012 in so far as not already in force) by Public Services Reform (Scotland) Act 2010 (asp 8), ss. 125(1), 134(7); S.S.I. 2010/321, art. 3, Sch.; S.S.I. 2012/218, art. 2

Chapter 7 S Scottish charitable incorporated organisations

Conversion, amalgamation and transfer S

58 Conversion: supplementary S

(1) If OSCR grants an application for conversion, it must—

(a) enter the SCIO in the Register,

(b) send to the appropriate registrar a copy of each of the resolutions of the converting company or registered society referred to in section 56(5) and a copy of the entry in the Register relating to the SCIO, and

(c) once the SCIO's constitution as a SCIO has taken effect, remove from the Register the entry for the converting company or registered society.

(2) The entry for the SCIO in the Register must, for so long as its constitution as a SCIO has not yet taken effect, include a note stating that fact.

(3) If the appropriate registrar—

(a) registers the documents sent under subsection (1)(b), and

(b) cancels the registration of the company under [F2 the Companies Act 2006], or of the society under the [F3 Co-operative and Community Benefit Societies Act 2014] (c. 12),

subsections (4) and (5) apply.

(4) The company or registered society is by virtue of this subsection converted into a SCIO, being a body corporate—

(a) whose constitution is that proposed in the application for conversion,

(b) whose name is that specified in the constitution, and

(c) whose first members are the members of the converting company or society immediately before the moment of conversion.

(5) All property, rights and liabilities of the converting company or registered society become by virtue of this subsection the property, rights and liabilities of the SCIO.

(6) The entry for the SCIO in the Register must include—

(a) a note stating that the charity is constituted as a SCIO,

(b) the date on which it became so constituted, and

(c) a note of the name of the company or society which was converted into the SCIO.

(7) In section 57 and in this section, the “appropriate registrar” means—

(a) in the case of an application for conversion by a company, the registrar of companies F4 ...,

(b) in the case of an application for conversion by a registered society, the [F5 Financial Conduct Authority ].

Textual Amendments

F2 Words in s. 58(3)(b) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 250(3)(a) (with art. 10)

F3 Words in s. 58(3)(b) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 98 (with Sch. 5)

F4 Words in s. 58(7)(a) omitted (1.10.2009) by virtue of The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 250(3)(b) (with art. 10)

F5 Words in s. 58(7)(b) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 11 para. 7 (with Sch. 12)

Commencement Information

I1 S. 58 in force at 1.1.2012 by S.S.I. 2011/20, art. 2(4)(c)