Converting a charity to issue community shares

According to an article from community sector support body Locality, The Hastings Pier Charity (http://www.hpcharity.co.uk) is the first example of a registered charity which has converted to a Community Benefit Society while at the same time retaining exempt charity status. This allowed it to issue community shares.

Locality, Co-ops UK and the Community Shares Unit are now working with the regulators to improve what was a tortuous process, so others may benefit.

http://locality.org.uk/blog/fire-storm/.

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