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Charities and Trustee Investment (Scotland) Act 2005
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Charities and Trustee Investment (Scotland) Act 2005, Section 58 is up to date with all changes known to be in force on or before 06 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 3(3)(aa) inserted by 2023 asp 5 s. 2(2)(a)
- s. 17(1)(ba) inserted by 2023 asp 5 s. 3(2)
- s. 44(1)(ca) inserted by 2023 asp 5 s. 10(2)(a)(i)
- s. 44(4A) inserted by 2023 asp 5 s. 10(2)(b)
- s. 45B and cross-heading inserted by 2023 asp 5 s. 10(3)
- s. 66A and cross-heading inserted by 2023 asp 5 s. 3(3)
- s. 69(2)(a)(ai) inserted by 2023 asp 5 s. 4(2)(a)(i)
- s. 69(2)(b)(i) words in s. 69(2)(b) renumbered as s. 69(2)(b)(i) by 2023 asp 5 s. 5(2)(a)(i)
- s. 69(2)(b)(i) words inserted by 2023 asp 5 s. 5(2)(a)(ii)
- s. 69(2)(b)(ii) inserted by 2023 asp 5 s. 5(2)(a)(iii)
- s. 69(2)(f)-(i) inserted by 2023 asp 5 s. 5(2)(d)
- s. 69(2)(da)(db) inserted by 2023 asp 5 s. 5(2)(c)
- s. 69(2A) inserted by 2023 asp 5 s. 5(3)(b)
- s. 69(3A) inserted by 2023 asp 5 s. 5(3)(c)
- s. 69(7) inserted by 2023 asp 5 s. 5(3)(e)
- s. 69A inserted by 2023 asp 5 s. 4(3)
- s. 69B inserted by 2023 asp 5 s. 6(2)
- s. 70(4)-(6) inserted by 2023 asp 5 s. 5(4)(b)
- s. 103(5)(ca) inserted by 2023 asp 5 s. 5(5)
- s. 103(5)(cb) inserted by 2023 asp 5 s. 4(4)
58Conversion: supplementaryS
This section has no associated Explanatory Notes
(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 [F1the Companies Act 2006], or of the society under the [F2Co-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 F3...,
(b)in the case of an application for conversion by a registered society, the [F4 Financial Conduct Authority ].
Textual Amendments
F1Words 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)
F2Words 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)
F3Words 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)
F4Words 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
I1S. 58 in force at 1.1.2012 by S.S.I. 2011/20, art. 2(4)(c)
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