Funding news

First Elements of Charities Act England and Wales – Friday 19 February 2007

The first commencement order bringing in provisions of the Charities Act 2006 has been published. The main areas covered are:

- changes to the governance arrangements of the Charity Commission. - increases to the financial thresholds above which charities are required to have a professional audit. - measures to address concerns about trustee personal liability, giving the Charity Commission a power to relieve trustees of liability where they have acted honestly and reasonably, and enabling trustees to purchase indemnity insurance with the charity’s money. These will come in on 27th February, along with some other elements of the Act (other parts will come in in stages over the next couple of years or so). As the Office of the Third Sector note says, “Very few of the provisions ….. that are being brought into force now will require charities to do anything in addition to what they are currently required to do.” Read the full article here: http://www.voluntarynews.org.uk/wp/2007/02/first-elements-of-charities-act-england-and-wales/