There are currently no known outstanding effects for the Companies (Audit, Investigations and Community Enterprise) Act 2004, Section 40.
(1)[F2A [F3company that is a Scottish charity] may not become a community interest company.]
(2)[F2If a [F3company that is a Scottish charity] purports by special resolution to change its name to comply with section 33, the Commissioners of Inland Revenue may apply to the Court of Session for an order quashing any altered certificate of incorporation issued under section 28(6) of [F4the 1985 Act].]
(3)Regulations may repeal subsections (1) and (2); and subsections (4) to (7) have effect on and after the day on which regulations under this subsection come into force.
(4)A [F3Scottish charitable company] may not [F5become a community interest company] without the prior written consent—
(a)if the company’s registered office is situated in Scotland, of the Scottish Charity Regulator, or
(b)if the company’s registered office is situated in England and Wales (or Wales), of both the Scottish Charity Regulator and the [F6Charity Commission].
(5)If a [F3company that is a Scottish charity] contravenes subsection (4)(a), the Scottish Charity Regulator may apply to the Court of Session for an order quashing any altered certificate of incorporation issued under [F7section 38A].
(6)If a [F3company that is a Scottish charity] contravenes subsection (4)(b), the Scottish Charity Regulator or the [F8Charity Commission] may apply to the High Court for such an order.
(7)If a [F3company that is a Scottish charity] becomes a community interest company, [F9it shall continue to be under a duty to apply–
(a)any property previously acquired, or any property representing property previously acquired,
(b)any property representing income which has previously accrued, or
(c)the income from any such property.
in accordance with its purposes as set out in its entry in the Scottish Charity Register immediately before it became a community interest company.]
F10(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F11(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 40 heading 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. 229(2) (with art. 10)
F2S. 40(1)(2) repealed (E.W.S.) (1.10.2009) by The Community Interest Company (Amendment) Regulations 2009 (S.I. 2009/1942), regs. 1(1), 2
F3Words in s. 40 substituted (6.4.2007) by The Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), art. 1(3), Sch. 4 para. 10(a) (with art. 11(1))
F4Words in s. 40(2) substituted (6.4.2007) by The Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), art. 1(3), Sch. 4 para. 10(b) (with art. 11(1))
F5Words in s. 40(4) 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. 229(3) (with art. 10)
F6Words in s. 40(4)(b) substituted (27.2.2007) by Charities Act 2006 (c. 50), s. 79(2), Sch. 8 para. 202; S.I. 2007/309, art. 2, Sch.
F7Words in s. 40(5) substituted (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. 229(4) (with art. 10)
F8Words in s. 40(6) substituted (27.2.2007) by Charities Act 2006 (c. 50), s. 79(2), Sch. 8 para. 202; S.I. 2007/309, art. 2, Sch.
F9Words in s. 40(7) substituted (1.4.2006) by Charities and Trustee Investment (Scotland) Act 2005 (Consequential Provisions and Modifications) Order 2006 (S.I. 2006/242), art. 1(3), Sch. para. 8(3)(a)
F10S. 40(8) omitted (6.4.2007) by virtue of The Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), art. 1(3), Sch. 4 para. 10(c) (with art. 11(1))
F11S. 40(9) repealed (1.4.2006) by Charities and Trustee Investment (Scotland) Act 2005 (Consequential Provisions and Modifications) Order 2006 (S.I. 2006/242), art. 1(3), Sch. para. 8(3)(c)
Commencement Information
I1S. 40 in force at 1.7.2005 by S.I. 2004/3322, art. 2(3), Sch. 3
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