We are advising an increasing number of industrial and provident societies which are seeking to convert into charitable companies. Our team advised Penrose Options, a previous IPS to successfully convert into a company limited by guarantee. Penrose has been providing help and support for ex-offenders and people with mental illness for over 40 years.

As the Charity Commission continues to drag its heels with the registration of previously exempt from registration industrial and provident societies, which are regulated by the Financial Conduct Authority, more industrial and provident societies are considering converting into a company limited by guarantee and seeking charity registration on conversion.

conversions of industrial and provident societies - Feb 2014-v2.pdf