Law and Regulation of Community Interest Companies

This new title provides a full analysis of the legislative and regulatory background
of community interest companies and is a guide to all six CIC precedents:

1. CIC model constitution: company limited by guarantee with a small membership
2. CIC model constitution: company limited by guarantee with a large membership
3. CIC model constitution: private schedule 2 company limited by shares with a
small membership
4. CIC model constitution: private schedule 2 company limited by shares with a
large membership
5. CIC model constitution: private schedule 3 company limited by shares with a
small membership
6. CIC model constitution: private schedule 3 company limited by shares with a
large membership

The precedents are fully annotated to provide guidance on each article, together
with bespoke clauses that may be included for specific events.It also uses case
examples to demonstrate:

how to create or convert to a CIC
the reporting requirements with Companies House and the CIC regulator

Armed with this text any solicitor, barrister or accountant will have the tools to
confidently advise clients on the legislative and regulatory background of CICs. This
text would also suit community bodies or individuals who wish to set up a social
enterprise using the CIC structure, in particular, sports clubs or voluntary groups.

This title is included in Bloomsbury Professional's Company and Commercial Law online service.

List of contents

1) Introduction

Overview Community Interest Company
The role of community interest companies
CIC v Charity structures
The Taxation of CICs
Legal Structure | limited by guarantee/shares
Company Structure
Constitution Overview

2) Legislative background

The Law
The Companies Act 2006
The Companies Act 2006 (Consequential Amendments etc) Order
2008
Companies (Audit, Investigations and Community Enterprise) Act 2004
The Companies (Audit, Investigations and Community Enterprise)
Act 2004 (Commencement) and Companies Act 1989
(Commencement No 18) Order 2004 (SI 2004/3322)
The Community Interest Company Regulations 2005
The Community Interest Company (Amendment) Regulations 2009
The Companies Act 2006 (Consequential Amendments Transitional
Provisions and Savings) Order 2009

3) Regulation background

The regulator
Investigations
Enforcement
Accountability & Appeals

4) CIC Overview

Legal Company Structures
Community interest statement
Incorporation
Conversion
Charities conversion to a CIC
Financing
Loan capital & Debentures
Charge on assets
Taxation considerations

5) Reporting

Role of directors & members
Directors renumeration
Transfer of assets
Liquidation & Insolvency
Winding up
Reporting obligations
Annual reports & Accounts

6) Articles of association

Company Act 2006
Articles of association overview
Objects
Alteration
Asset Lock

7) Asset Lock

Restrictions
Dividend caps
Performance related cap
Redemption & Reduction in capital

8) Precedents

CIC model constitution: company limited by guarantee with a small membership
CIC model constitution: company limited by guarantee with a large membership
CIC model constitution: private schedule 2 company limited by shares with a small membership
CIC model constitution: private schedule 2 company limited by shares with a large membership
CIC model constitution: private schedule 3 company limited by shares with a small membership
CIC model constitution: private schedule 3 company limited by shares with a large membership

About the author

Richard C Bishop has been involved financial services for over 20 years, working with property owners, wealthy families and SME’s advising on tax mitigation and estate planning.

He is lecturer in finance in the Centre for Tourism and Hospitality Management at Leeds Beckett University. He is regarded as a leading writer and researcher on the subject of company constitutions and has in addition authored Articles of Association: Guidance and Precedents also published by Bloomsbury Professional.

He has also written as columnist for the FT Adviser, Money Marketing and Professional Adviser.

Summary

This new title provides a full analysis of the legislative and regulatory background
of community interest companies and is a guide to all six CIC precedents:

1. CIC model constitution: company limited by guarantee with a small membership
2. CIC model constitution: company limited by guarantee with a large membership
3. CIC model constitution: private schedule 2 company limited by shares with a
small membership
4. CIC model constitution: private schedule 2 company limited by shares with a
large membership
5. CIC model constitution: private schedule 3 company limited by shares with a
small membership
6. CIC model constitution: private schedule 3 company limited by shares with a
large membership

The precedents are fully annotated to provide guidance on each article, together
with bespoke clauses that may be included for specific events.It also uses case
examples to demonstrate:

how to create or convert to a CIC
the reporting requirements with Companies House and the CIC regulator

Armed with this text any solicitor, barrister or accountant will have the tools to
confidently advise clients on the legislative and regulatory background of CICs. This
text would also suit community bodies or individuals who wish to set up a social
enterprise using the CIC structure, in particular, sports clubs or voluntary groups.

This title is included in Bloomsbury Professional's Company and Commercial Law online service.

Foreword

Law and Regulation of Community Interest Companies provides a full analysis of the legislative and regulatory background of community interest companies and is a guide to all six CIC precedents, fully annotated to provide guidance on each article, together with bespoke clauses that may be included for specific events.

Product details

• Authors: Richard C. Bishop
• Publisher: Bloomsbury Academic
• Languages: English
• Product format: Hardback
• Released: 27.10.2022
• EAN: 9781526522757
• ISBN: 978-1-5265-2275-7
• No. of pages: 432
• Dimensions: 164 mm x 256 mm x 28 mm
• Weight: 840 g
• Subjects: Social sciences, law, business > Law > International law, foreign law; LAW / Commercial / General, United Kingdom, Great Britain, Company law, Charity law