[Talk-GB] UK group: Community Interest Company

Robert Whittaker (OSM lists) robert.whittaker+osm at gmail.com
Fri Feb 19 09:45:19 UTC 2016


On 17 February 2016 at 22:57, Rob Nickerson <rob.j.nickerson at gmail.com> wrote:
> Hi all,
>
> One of the outstanding actions for the UK group is should we set up as a
> regular Limited Company or a Limited Company with Community Interest Company
> (CIC) special features. The special features (e.g. Asset Lock) sends a clear
> message of our intention to support the community rather than personal gain.
>
> The two main questions are:
>
> Question 1: How much annual overhead?
> It would require an extra annual form (CIC34) but as Brian noted during the
> last meeting this is straightforward. Worked example:
> https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/454007/example-form-cic34-short-version2.doc
>
> Question 2: What if we end up dissolving the group?
> In this case we need to find another CIC or a Charity to transfer any
> remaining assets to. We cannot transfer to a plain Limited Company such as
> the OSMF.
>
> In my view the annual overhead is minimal yet being a CIC brings clear
> benefits from a transparency point of view. I would recommend that an OSMF
> member raise the question of becoming a CIC to the OSMF Board as the
> transparency would benefit them too (and should we ever dissolve the UK
> group it would make things much simpler). If the OSMF were to "upgrade" to
> CIC status it would cost them just GBP 25. They should consider what impact
> the asset lock will have on their regular activities (e.g. cannot transfer
> assets at less than full market value).
>
> Best,
> Rob
>
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-- 
Robert Whittaker



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