06: Main provisions to be in place in 2007
Although the Charities Act was passed in November 2006, it will take time for all the changes to come into force. Some are expected to take effect in 2007 but many will require consultation, secondary legislation and guidance before being implemented.Some of the main provisions which will be implemented in 2007 include:
- Introduction of £5,000 minimum threshold for registration as a charity.
- Increased thresholds for audit of accounts.
- New power for all charities to buy trustee indemnity insurance.
- New power for all charities that are not companies to change their rules regarding how they are to be run.
- New powers for the Charity Commission to identify who the members of the charity are, to relieve trustees from liability, and to enter premises and seize documents under a warrant.
