The Charity Commission, the independent regulator of charities in England and Wales, has petitioned the High Court for an order to wind up Thrift Urban Housing Limited (registered charity number 1072534).
The Commission opened a statutory inquiry into the charity in August 2014. The inquiry has been examining serious regulatory concerns, including concerns about unmanaged conflicts of interest and private benefit. For various operational reasons it has not been appropriate for the Commission to formally announce the opening of the inquiry until this time.
The Commission considers it in the public interest for Thrift Urban Housing Limited to be ordered to wind up. The Commission has therefore applied to the High Court for an order to wind up the charity.
Under section 113(3) of the Charities Act 2011 the Commission can petition the High Court to order the winding up of a charity under the Insolvency Act 1986 if it is satisfied that there has been misconduct or mismanagement, or there is a need to protect property. The charity has the opportunity to respond to this petition.
The Court will consider whether to appoint an Official Receiver who, if appointed, would be responsible for applying any remaining assets as part of the winding up of the charity. A public notice of the Commission’s application has been published in the London Gazette.
The Commission’s inquiry continues, however it intends to publish a report, setting out its findings and conclusions in due course.
Notes to editors:
- The Commission is the independent regulator of charities in England and Wales. To find out more about our work see the about us page on GOV.UK.
- Search for charities on our check charity tool.
- Section 46 of the Charities Act 2011 gives the Commission the power to institute inquiries. The opening of an inquiry gives the Commission access to a range of investigative, protective and remedial legal powers.
- Reports of previous inquiries are available on GOV.UK.