Overview

The St. Austell Market Act 2008 transferred the operation of St. Austell Market and its Market House from the Commissioners of St. Austell Markets and Fairs to St. Austell Market House CIC, a community interest company. This transfer aimed to improve management, enhance community use, and preserve the historic building.

Description

This Act facilitated the transfer of the St. Austell Market undertaking—including the Market House building, associated land, and all assets, liabilities, and obligations—from the Commissioners to St. Austell Market House CIC (the Company). The Commissioners were empowered to set a transfer date ("appointed day"), after which the Company would assume full responsibility. The Act ensured the continued operation of the market and safeguarded existing agreements and legal proceedings. Crucially, it repealed the outdated St. Austell Market Act 1842, removing restrictive regulations. The final accounts of the Commissioners were to be settled up to the appointed day, with the audit fees payable by the Company. All relevant books and documents remained admissible as evidence. The Market House was released from any trusts related to its use as a market under the 1842 Act.

Government Spending

The Act did not directly involve government spending. The costs associated with the Act's preparation and passage were to be covered by the Commissioners, possibly using existing revenue.

Groups Affected

• Commissioners of St. Austell Markets and Fairs: Lost responsibility for the market's operation and assumed financial responsibility for Act-related costs.
• St. Austell Market House CIC: Assumed responsibility for operating the market and managing the Market House, inheriting all assets and liabilities.
• Market Traders: Experienced a change in management, potentially impacting lease agreements and market regulations.
• Local Community: Potentially benefited from improved market management and increased community involvement in the Market House.

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