A charitable trust can be set up by the simple expedient of making a gift or a legacy that the recipient takes 'on trust', to administer for an officially recognised 'public benefit' purpose. Charities set up in England and Wales must have purposes which are all exclusively charitable, as defined by the thirteen descriptions contained in the 2006 Charities Act. A charitable association can be set up by two or more persons (natural or corporate) who agree to work together for a charitable purpose. Such an association can remain 'unincorporated', or it can be given its own legal personality as a limited-liability company. Charitable companies are subject to dual regulation under both charity and company law. However, a new vehicle for charitable activity, the charitable incorporated organisation (or CIO) which would be regulated solely under charity law, should be available from spring 2011 (although the implementation date has consistently been pushed back since early 2008). The minimum income threshold for a registered charity in the UK is £5,000 per annum.