Commission appoints interim manager to The Potanin Foundation

The Potanin Foundation was registered in 2006 and is a grant-making charity which has supported its sister charity in Russia, the Vladimir Potanin Foundation, as well as other charities. It has broad charitable objects.

The Commission opened a statutory inquiry into the Potanin Foundation on 29 June 2022, after the charity’s founder and member, Vladimir Potanin, was sanctioned under the UK’s Russia (Sanctions) (EU Exit) Regulations 2019.

As part of the inquiry Guy Hollander of Mazars LLP was appointed as interim manager of the charity on 12 July 2022. He has taken over the management and administration of the charity and will fulfil a number of tasks, including managing the charity’s assets and assessing the future viability of the charity.

The Commission’s inquiry remains ongoing. It is the Commission’s policy to publish a report upon concluding an inquiry.

ENDS

Notes to Editors

1. The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its purpose is to ensure charity can thrive and inspire trust so that people can improve lives and strengthen society.
2. The charity’s details can be found on the register of charities.
3. Section 76(3)(g) of the Charities Act 2011 gives the Commission power to appoint an interim manager to a charity to act as receiver and manager in respect of the property and affairs of the charity.
4. On 30 May 2022, OFSI issued General Licence INT/2022/1834876 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 which allows for Interim Managers and trustees appointed by the Commission to act as receiver(s) and manager(s) in respect of the property and affairs of a charity.
5. Interim managers are appointed where the Commission has identified misconduct or mismanagement in the administration of a charity, and/or where there is a need to protect a charity’s property. It is a temporary and protective measure.