Page 41 - Demo

order to make sure that the trust’s assets are not lost. If you are concerned that your assets may not be held in the correct names we would recommend that you seek legal advice about how to rectify this situation as soon as possible, because if you need to sell any assets you will rst need to demonstrate that your charity owns them.
(b) Charitable company limited by guarantee
As the assets will be held in the name of the company, appointments and retirement do not also need to pass the assets from one set of trustees to another. As the trustees are also normally the directors of the company you will need to comply with the ling requirements under company law. If the trustees are also the members of the company you will need to update any necessary paperwork for this too.
There may be a named appointor as with a trust, or the appointment may be made by the member(s) of the company or by the trustees. There may be ex-of cio trustees. You will need to check the particular process in the memorandum and articles of association, and hold any meetings which may be necessary. Remember to keep clear minutes in line with the governing document, as evidence of appointment at a meeting.
Once appointed or removed you will need to le the appropriate forms with Companies House (AP01 for appointment and TR01 for removal), and update the company’s register of directors (trustees), and members if necessary.
(c) Charitable incorporated organisation
As the assets will be held in the name of the CIO, newly appointed and setting trusties' retirements do not also need to pass the assets from one to another. If the trustees are also the members of the CIO you will also need to update any necessary paperwork for this too.
There may be a named appointor as with a trust, or the appointment may be made by the member(s) of the CIO or by the trustees, or there may be ex-of cio trustees. You will need to check the particular process in the Constitution and hold any meetings which may be necessary.
Chapter 3 37