We are delighted to announce that the Cantley Village Hall has now been incorporated with effect from 14th August and our new registration can be viewed here.
Incorporated groups are recognised legally as a separate entity, meaning that we now exist by ourselves and are separate from trustees and members. This type of group protects individuals if there is a legal problem, reducing personal risk. The group can own property, be liable for debt, hold contracts, have a community bank account and have greater access to funding opportunities. The benefits of being incorporated, as opposed to our previous status of unincorporated are as follows:
Has a corporate body, so a group of members that has a separate legal identity.
Greater protection for individual Trustees with limited personal risk.
More funding options are available.
The disadvantages are as follows:
Tighter regulations.
Greater requirements on reporting back.
Need a Trustee Board rather than a committee.
We will now work with the Parish Council, who were our Custodian Trustee when were an unincorporated organisation, to close done the old charity (registration number 1085313) and transfer our assets to the new charity over the next six months.
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