Our Trust Deed was drawn up in 1978. At that time the Village Hall Committee held the hall on a 21 year lease from the Royal British Legion. The Trustees (the members of the Village Hall Committee), now own the land on which the new hall is built and the land and building are vested in the Official Custodian for Charities.
Trustees under this Trust Deed have personal duties and responsibilities and are individually liable for any failure of the Trust. There are also a number of clauses which are no longer appropriate. The 2006 Charities Act created a new vehicle for an unincorporated charity to use if it wished to incorporate and thus gain limited liability status – the Charitable Incorporated Organisation (CIO). A CIO has the advantages of a corporate structure, such as reduced personal liability for trustees.
The advantages are increased flexibility for the Trustees to operate and removal of personal liability. It is also likely to make the recruitment of new Trustees easier. At the AGM on the 7 March it was unanimously agreed to start the process for conversion to a CIO.