Part 11Charitable incorporated organisations (CIOs)
CHAPTER 4Conversion, amalgamation and transfer
Transfer of CIO’s undertaking to another CIO
243Confirmation of resolution
1
If the Commission does not notify the transferor CIO within the relevant period that it is either confirming or refusing to confirm the transferor CIO’s resolution, the resolution is to be treated as confirmed by the Commission on the day after the end of that period.
2
Subject to subsection (3), “the relevant period” means—
a
if the Commission directs the transferor CIO under section 241 to give public notice of its resolution, the period of 6 months beginning with the date when that notice is given, or
b
otherwise, the period of 6 months beginning with the date when both of the copy resolutions referred to in section 240(2) have been received by the Commission.
3
The Commission may at any time within the period of 6 months mentioned in subsection (2)(a) or (b) give the transferor CIO a notice extending the relevant period by such period (not exceeding 6 months) as is specified in the notice.
4
A notice under subsection (3) must set out the Commission’s reasons for the extension.