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Applying to dissolve a solvent SCIO – top tips to get it right

In supporting charities to have good governance and get things right first time, we have recently noticed a small number of common issues with applications from SCIOs that are solvent but want to dissolve. 

We have turned these issues into four top tips to help charity trustees of SCIOs in this situation to follow the correct processes and provide us with the correct information first time so that we can deal with the application as efficiently as possible.

Here are the 4 top tips:

1. Understand what the charitable purposes of your SCIO are as set out in your governing document – this will help you to select an appropriate recipient for the remaining funds your SCIO has.

2. Remember to name a recipient body on your application even where there are little or no assets to distribute. This is a legal requirement and we cannot process your application without this information.

3. Make sure the charitable purposes that the recipient body has in its governing document are the same as or closely resemble the ones your SCIO has in its governing document.  Please note that it is not appropriate for your local Third Sector Interface (TSI) to be the named recipient.

4. Once you have passed the necessary resolution to dissolve, send the completed application to OSCR within 21 days of the resolution date. This is a legal requirement and we cannot process your application if we receive it after the 21 days has passed.