The Charity Commission is to open a statutory inquiry into the Spiritualist Association of Great Britain (SAGB) regarding concerns over it’s property dealings. According to the Charity Commission, the trustees disposed of a charity property in 2010 for £6 million. The sale was to a company registered in the British Virgin Islands (BVI). Shortly after the disposal, the property was sold on to another BVI registered company for £21 million!
The charity trustees have been unable to demonstrate to the satisfaction of the Commission that the disposal was in the best interests of the Charity, so the Commission has opened an inquiry. The Commission will be looking into possible mismanagement or misconduct on the part of the trustees. This will include whether the trustees complied with their legal obligations and fiduciary duties as trustees when disposing of a charitable asset.
Section 46 of the Charities Act 2011 gives the Charity Commission the power to institute inquiries. Following the inquiry, the Commission will publish a report detailing the issues involved, the actions undertaken as part of the inquiry and what the outcomes were
The last of the seven principles of the SAGB is “We believe that all are responsible for the way they conduct their earthly lives.” So the SAGB trustees won’t mind answering to the inquiry then!