STRUCTURE , GOVERNANCE AND MANAGEMENT
LEGAL STRUCTURE
POWERS OF INVESTMENT
On 1 April 2016 the Royal Free Charity reconstituted as an independent charity (no. 1165672), solely regulated by the Charity Commission and no longer also subject to NHS legislation. This status establishes the charity’s independence from the Department of Health and by virtue of becoming a company limited by guarantee (no 09987907), limits the trustees’ liability. The charity operates under a Charity Commission Scheme dated 1 April 2016 and its objects as stated in its articles of association, encompass not only the support of patients of the Royal Free London, but also and more generally the promotion of health and medical research, particularly within the catchment area of the trust.
The charity’ powers of investment are principally derived from its articles of association and the Companies Act 2006; in exercising these powers, the trustees must act in accordance with their duties as charity trustees and as company directors as set out in the Charities Act 2011 and the Companies Act 2006. They must also act in accordance with the Trustee Act 2000.
TRUSTEES
Following the reconstitution of the charity, new trustees are appointed by the trustee board after open competition. Several trustees who were previously trustees of the former NHS charity are now trustees of the incorporated charity; in addition, the Royal Free London has the right to appoint and remove one trustee. Currently this is Chris Streather, group chief medical director at the Royal Free London. The chair of the trustees aims for new and existing trustees to be fully briefed on the key issues facing the charity, including Charity Commission information on trustee responsibilities, aspects of charity law pertinent to the charity and that they receive timely copies of reports, accounts and other key documents. Committee members declare all relevant interests in other bodies, especially bodies closely connected with the Royal Free London. The trustees and their four sub-committees, finance and investment committee, the works of art committee, fundraising committee and the nominations and governance committee meet quarterly.
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ANNUAL REPORT & ACCOUNTS 2019–20
These powers of investment are wide, allowing the trustees to invest in such stocks, funds, shares, equities or other investments as they see fit. REMUNER ATION
The remuneration of senior staff is agreed by the chair of the trustees, following a comparison of their posts with similar positions in the charity sector generally.
