[Talk-GB] UK group: Community Interest Company

[Robert Whittaker (OSM lists)]

On 17 February 2016 at 22:57, Rob Nickerson <rob.j.nickerson at gmail.com> wrote:
> 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.

I think that the benefits of CIC would outweigh the small additional
overhead, so I think we should go for that. However, there is one
stumbling block...

> 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.

I think I remember reading that we would need to explicitly specify
another organisation to transfer our assets to in the event that the
CIC is dissolved. If this can't be the OSMF at the moment, then what
else could it be? Presumably even if OSMF decides to change it status,
it wouldn't happen fast enough for us to take advantage of it
initially. So does anyone have any ideas for where our assets could go
in the mean time?

Robert.

-- 
Robert Whittaker