The derelict pier at Hastings is facing a bright new future.

Being charitable about it: the complex rules for community co-ops

Hastings Pier Charity has become the first registered charity to become an exempt charitable bencom. Photograph: Gareth Fuller/PA

The derelict pier at Hastings is facing a bright new future. The community-led Hastings Pier Charity project has already raised £13.7m and is now in the throes of a community share issue to raise a final £500,000 to complete the renovation work.

It's a real achievement. But the Hastings Pier Charity has also done something less obvious but no less significant: it has also been the first registered charity to leave behind Charity Commission regulation and move to become an exempt charitable "bencom" (a society for the benefit of the community) registered under Industrial & Provident Societies (I&PS) legislation……………………………..
http://www.theguardian.com/social-enterprise-network/2013/nov/07/complex-rules-coops-to-charities