F1Part 1Charities

Annotations:
Amendments (Textual)
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 7Scottish charitable incorporated organisations

Conversion, amalgamation and transfer

I161Transfer of SCIO's undertaking

1

A SCIO may resolve that all its property, rights and liabilities should be transferred to another SCIO specified in the resolution.

2

Where a SCIO has passed such a resolution, it must send to OSCR—

a

a copy of the resolution, and

b

a copy of a resolution of the transferee SCIO agreeing to the transfer to it.

3

A resolution referred to in subsections (1) and (2)(b) must be passed—

a

by a two-thirds majority of those voting at a general meeting of the SCIO (including those voting by proxy or by post, if voting that way is permitted), or

b

unanimously by the SCIO's members, otherwise than at a general meeting.

4

The resolution referred to in subsection (1) does not take effect until confirmed by OSCR.

5

If OSCR confirms the resolution—

a

all the property, rights and liabilities of the transferor SCIO become by virtue of this subsection the property, rights and liabilities of the transferee SCIO in accordance with the resolution,

b

the transferor SCIO is dissolved, and

c

OSCR must remove from the Register the entry for the transferor SCIO.