In February 2012 the Minister responsible for Voluntary Organisations issued a new set of regulations applicable to all voluntary organisations that are enrolled with the Commissioner for Voluntary Organisations. These regulations mainly relate to the reporting obligations of the said organisations.
The system applicable prior to these regulations had been one where the submission of an annual report and annual accounts would have sufficed. This is set to change pursuant to the issue of the new regulations whereby voluntary organisations must now prepare an annual return which comprises:
- an organisational chart;
- a copy of any documents amending the statute, if any;
- a revised and updated certified copy of the statute;
- a copy of the annual report;
- a copy of the annual accounts – the form in which annual accounts need to be drawn up depends on the following distinction:
- “Category 1 enrolled voluntary organisations” i.e. those whose annual revenue does not exceed or is equal to €200,000; and
- “Category 2 enrolled voluntary organisations” i.e. those whose annual revenue exceeds €200,000.
The Regulations also introduces certain timeframes and template forms which help to clarify certain requirements that were contained in the Voluntary Organisations Act and were thus very positively received.
