A society registered with the Financial Conduct Authority, owned by the members. For a community benefit society you could write: ‘[society name] is a Community Benefit Society registered under the Co-operative and Community Benefit Societies Act 2014’. The recognition and regulation of charities is a devolved matter. A charitable community benefit society is a community benefit society with exclusively charitable purposes. Currently, therefore, in England and Wales a registered charitable company converting to a charitable community benefit society with the consent of the Charity Commission to the changes of its articles would automatically become an exempt charity, and would be removed from the Charity Commission’s register. Each member has one vote at the AGM, even if they have more than one share. Basic info. These charities are registered with the Financial Conduct Authority but currently have no principal regulator. A charitable community benefit society* is charitable body that is democratically owned and controlled by those who support the philanthropic and social purposes of the society.

Currently, therefore, in England and Wales a registered charitable company converting to a charitable community benefit society with the consent of the Charity Commission to the changes of its articles would automatically become an exempt charity, and would be removed from the Charity Commission’s register. Charitable Community Benefit Society This guide sets out the main legislative and regulatory information to be aware of when setting up a Charitable Community Benefit Society. What is a Charitable Community Benefit Society. There are two kinds of registered society: a “ community benefit society” and a “co-operative society”. A “registered society” means an organisation registered by the Financial Conduct Authority under the Co-operative and Community Benefit Societies Act 2014. As such, readers should also consult ‘A guide to charitable status’. Being a charity grants an organisation a legal status on top of its legal form (in this case, the Community Benefit Society). This category includes charitable community benefit societies and friendly societies. The society is established for the benefit of the community and not of its members, who do not need to be (though they can be) consumers or workers. Tell me more about registered societies. Registration number Community benefit societies will have a number starting from 7,000.