The Charity Bank Limited
Decisions of the Charity Commission on The Charity Bank Limited.
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Decisions made by the Charity Commission on 1 November 2002 and 31 May 2013.
In 2002 the commission decided that the Charity Bank could be registered as a charity to promote the efficient and effective application of charitable resources.
In 2013 the Bank was required to make changes so it could continue to operate as a bank under the Financial Services and Markets Act 2000. These changes were not compatible with the Bank being a charity. As it was more important to the charity sector that the Bank operated as a bank than as a charity, as an exceptional circumstance the commission decided to permit the Bank to change its governing document even though this would have the effect of it ceasing to be a charity.
These decisions are significant because they demonstrate how charity law develops over time and can be affected by other legislation.