Solicitors Russell Cooke takes a look at the Charitable Incorporated Organisation legal model two years on from its introduction. With over 5,000 in existence, in 2014 forty per cent of all charity applications made to the Charity Commission were for CIOs.
The article sets out the key features of a CIO and why, if you are an unincorporated association or charitable trust, it may be an advantage to incorporate. » Continue reading news item ... “Weighing up charity and ‘community’ legal structures”
A new guide for those involved in the management of Community Interest Companies aims to help CIC directors “to provide strong leadership, enhance their decision-making and make the most of their collective capabilities”.
Produced by Bates Wells Braithwaite solicitors, in consultation with the CIC regulator, to celebrate 10 years of CICs, ‘Community Interest Companies: A Practical Framework’ offers practical principles, hints and tips for anyone looking to demystify governance and build firm governance foundations. » Continue reading news item ... “Governance ebook for CICs”
The first national survey investigating innovation and productivity in Community Interest Companies (CICs) is currently in progress, looking at origin and impact. The research team is sending out participation invitations by email.
See official news release at https://www.gov.uk/government/news/how-innovative-is-your-cic.
The Community Interest Company (Amendment) Regulations 2014 (http://www.legislation.gov.uk/uksi/2014/2483/contents/made) came into force on 1st October, applying to any dividend declared, or proposed to be declared, on or after that date. The main change is to remove the share dividend cap, with the cap for performance related interest also increased from 10% to 20%.
(Info from Bates Wells Braithwaite Briefing.)
Two recent annual reports from sector regulators:
The Charity Commission (England and Wales) received 6,661 applications for registration in 2013-14 and approved almost five thousand. Other top statistics in the official news item, direct link to annual report (1.4MB pdf).
The Regulator of Community Interest Companies Annual Report for 2013-14 is available. There are well over 9,000 Community Interest Companies registered across the UK, and 2015 will be the tenth anniversary of the CIC legal model.
The Office of the Regulator of Community Interest Companies has updated its guidance explaining what community interest companies are and the steps that must be taken to form a CIC. It includes information on constitutional documents, restrictions on the transfer of assets and statutory obligations.
Some of this was first published back in 2012, but we may have missed it, so thanks to Bates Wells Braithwaite’s Briefing for the pointer.