A Trust is an unincorporated entity set up to hold property to be used solely for charitable purposes. So what is a Scottish charitable trust?
The main characteristics of a Scottish charitable trust are as follows:
1. It is simple to set up.
2. The Trust Deed (which is the governing document of the Trust) will identify the individuals who are the trustees responsible for the control and management of the Trust and its assets. The powers and duties of the Trust are set out
The Office of the Scottish Charity Regulator (OSCR) has the power to apply the charity test as defined in the Charities and Trustee Investment (Scotland) Act 2005 to review the charitable status of charities listed on the register. Does your organisation pass the charity test?
The five functions of OSCR as specified in law are to:
To maintain charitable status, charities must continue
The Office of the Scottish Charity Regulator (OSCR) were made aware of reports in the press about an alleged high value severance package agreed by the charity trustees of Glasgow East Regeneration Agency for the charity's Chief Executive when he was made redundant. What are the duties of charity trustees in Scotland?
OSCR's regulatory functions are set out in the Charities and Trustee Investment (Scotland) Act 2005 (the Act) and include the requirements to encourage, facilitate and monitor compliance by charities and to identify and
As at 1 November 2012, the Charities Restricted Funds Re-organisation (Scotland) Regulations 2012 came into effect. Do you know what a restricted fund is and what it means for your charitable organisation?
The Regulations define 'restricted fund' as property (including money) given to a charity for a specific purpose and in respect of which conditions have been imposed as to its use?.
Examples as provided by the Office of the Scottish Charity Regulator (OSCR) of such restricted funds are:-
Have you considered if it is time to reorganise your charity's constitution? Does your charity's constitution enable the charity trustees to:
- make changes to keep it relevant or,
- whether it is so outdated that the charity can no longer be true to its original spirit.
Charities with an outdated constitution may find that they are unable to make proper use of their charitable funds.
Registered charities must seek the prior consent of OSCR before making the following fundamental changes:-
From 1st January 2012, charities that are companies or industrial and provident societies (IPS) can apply to the Office of the Scottish Charity Regulator (OSCR) to convert to a Scottish Charitable Incorporated Organisation (SCIO). Previously it was only unincorporated associations or trusts who could take advantage of this change. We help Scottish Charitable Companies become SCIOs.
However, the conversion of a company or IPS to a SCIO may only take place if:
