Only a few very limited administrative provisions come into force immediately - the Cabinet Office is expected to announce shortly a two year programme for bringing all the substantive provisions of the Act into force. An important next stage will see the Government and the Commission consulting on regulations and guidance to be issued under the Act which, in many areas, will be key to how the Act affects charities in practice.

The final content of the Act may disappoint some for what it fails to do but our view is that it will bring many helpful changes for charities. Our top 10 are:

1. Registration with the Charity Commission

The rules on registration are changing. The threshold for registration will be raised from £1,000 to £5,000. Exempted and excepted charities will be subject to more regulation than before.

2. Paying Trustees

Most charities will now have powers to pay their Trustees for services they provide to the charity (except for acting as Trustees, or as paid employees) and to buy Trustee Indemnity Insurance.

3. Public collections and fundraising

For those of you who carry out public collections, there will be a modern regime for street and house to house collections. Paid fundraisers and companies involved in charitable promotions will need to make more detailed statements to the public.

4. Audit

The audit thresholds are changing: charities with income between £250,000 and £500,000 will be most affected.

5. Freedom for unincorporated charities

All unincorporated charities will be able to change the administrative provisions in their Constitution without involving the Charity Commission in advance.

6. Permanent Endowment

The rules about spending the capital tied up in permanent endowment funds will become much more flexible.

7. Membership Charities

Have you lost track of who your members are? The Charity Commission will have a new power to decide who they are.

8. Charity Tribunal

Are you dissatisfied with a decision of the Charity Commission? The new Charity Tribunal will be an easier way of challenging the Commission.

9. Mergers

New rules will help charities through the merger process.

10. Dissatisfied with your current form of constitution?

A new limited liability legal form, the Charitable Incorporated Organisation, regulated by the Charity Commission alone, has been created especially for charities.

A more detailed summary of the Act will follow once we know when these and other provisions are likely to come into force. We will also keep you up to date with how you can participate in consultations on regulations and guidance relevant to the Act.