Weighing up charity and ‘community’ legal structures

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.

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Community Interest Companies dividend regs

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%.

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Comprehensive guidance on Community Interest Companies

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.

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