Part 2Community interest companies

Becoming a community interest company

39F1Becoming a community interest company: English charities

(1)

A F2company that is an English charity may not F3become a community interest company without the prior written consent of the F4Charity Commission.

(2)

If a F2company that is an English charity contravenes subsection (1), the F4Charity Commission may apply to the High Court for an order quashing any altered certificate of incorporation issued under F5section 38A .

(3)

If a F2company that is an English charity becomes a community interest company, that does not affect the application of—

(a)

any property acquired under any disposition or agreement previously made otherwise than for full consideration in money or money’s worth, or any property representing property so acquired,

(b)

any property representing income which has previously accrued, or

(c)

the income from any such property.

F6(4)

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