Part 11

Charitable incorporated organisations (CIOs)
CHAPTER 4

Conversion, amalgamation and transfer

Transfer of CIO's undertaking to another CIO

Resolutions about transfer of CIO's undertaking to another CIO
240
1
A CIO may resolve that all its property, rights and liabilities should be transferred to another CIO specified in the resolution.
2
Where a CIO has passed such a resolution, it must send to the Commission—
a
a copy of the resolution, and
b
a copy of a resolution of the transferee CIO agreeing to the transfer to it.
3
The resolutions referred to in subsections (1) and (2)(b) must have been passed—
a
by a 75% majority of those voting at a general meeting of the CIO (including those voting by proxy or by post, if voting that way is permitted), or
b
unanimously by the CIO's members, otherwise than at a general meeting.
4
The date of passing of such a resolution is—
a
the date of the general meeting at which it was passed, or
b
if it was passed otherwise than at a general meeting, the date on which provision in the CIO's constitution or in regulations made under section 223 treats it as having been passed (but that date may not be earlier than that on which the last member agreed to it).
5
The resolution of the transferor CIO does not take effect until confirmed by the Commission.