The applicant is a resident public benefit organisation (PBO) approved under section 30.
The Charitable Incorporated Organisation (CIO) is a foreign-incorporated charitable organisation.
The applicant was established to administer and control a special fund for the sole purpose of receiving donations to be used exclusively to provide funds, assets, and essential services, for the benefit of its beneficiaries.
The applicant has embarked on a programme to solicit donations from wealthy South Africans who have emigrated to other countries. It is envisaged that charities will be established in various countries or cities and will collect donations. These donations will be used to supplement the financial needs of the applicant, to build up funds, which can be distributed to its beneficiaries.
An Association Charitable Incorporated Organisation (Association CIO) in the United Kingdom will be established.
This is a corporate structure designed specifically and exclusively for charities and is regulated by the Charity Commission of England and Wales.
The applicant will be the sole member of the Association CIO.
Although the CIO will be established to raise funds for the ultimate benefit of the applicant’s beneficiaries, it will, nevertheless have full discretion as to which charity (whether in the UK or not) it will distribute its funds.
- Section 9D applies to the applicant
- The amount to be included in the applicant’s income in terms of section 9D(2) will be exempt under the provisions of section 10(1)(cN)(i).
- The provisions of section 72A will apply to the applicant
Find a copy of BPR 387
here.
