Commentary Part 4 – Miscellaneous and General Section 26: Power of a higher education corporation to form or be involved in certain bodies corporate
113.The Charities Act 2006 created a new form of body corporate called charitable incorporated organisations (CIOs) which will be regulated by the Charities Commission. Section 26 clarifies the power of higher education corporations to form or invest in companies and gives them a new power to form or become members of charitable incorporated organisations.
114.Subsection (4) contains retrospective provision that ensures that any companies limited by guarantee that have already been formed between 1 April 2001 and the date on which this section comes into force were formed lawfully.