Or contact them by one of the following means:
|
|
- Robyn Robertson
- 8 years ago
- Views:
Transcription
1 COMMUNITY INTEREST COMPANIES CHARITABLE LIMITED COMPANIES There are three This information sheet gives a brief introduction to the new legal structure available since 1st July 2005 for social or community enterprises. It is called the community interest company or CIC, and was created by the Companies (Audit, Investigations and Community Enterprises) Act You can find full guidance on what a CIC is and how register as one from:- Or contact them by one of the following means: Telephone: (this is a 24-hour voic service) Fax: cicregulator@companieshouse.gov.uk Write to: The CIC Regulator, CIC Team Room 3. 68, Companies House Crown Way, Maindy, Cardiff CF14 3UZ 1
2 What sort of organisations can become CICs? A CIC can take 3 forms: Company limited by shares Company limited by guarantee Public limited company (plc) An organisation wishing to become a CIC must have objects (aims) and undertake activities that are for the benefit of the community. This means it exists to benefit the wider community rather than for individual private gain or to promote the interests of a small group of people. CICs are designed to be businesses governed by company law so they cannot register as charities, nor can political parties or other political organisations register as CICs. A registered charity can, however, convert into a CIC if the Charity Commission gives its permission (see page 3). What does for the benefit of the community mean? This is defined in the 2004 Act as what a reasonable person might think it means. The Government has appointed a regulator to scrutinise each application to register as a CIC, and wants this person to exercise a light touch in making decisions. In his introduction to the Government s guidance on CICs, he gives some examples: Research into environmental pollution Preservation of wetlands Provision of advice services Preservation of languages/culture Encouragement of sport Establishing a museum Hire of equipment for short-term needs Support for community projects Contracting to provide services and using the surpluses from this for the benefit of a community. Who is the community for the purposes of a CIC? The Regulator s guidance gives a number of examples: The residents of a town or district of a city People in a town or district who have particular needs, such as elderly and/or disabled people, the young unemployed, people suffering from a particular illness, or who want to learn certain skills to improve their employment opportunities Groups of people oversees who are in need e.g. small scale farmers in a developing country. Certain groups will not be classed as a community : e.g. a family or group of friends, the employees of a particular business or the members of a particular club. Organisations set up purely to benefit those groups and not the wider community, won t qualify as CICs. 2
3 What are the other features of CICs? In order to register as a CIC, an organisation must adopt a model constitution (or memorandum and articles of association ) which contains certain compulsory features that are unique to CICs. It must have the words Community Interest Company or c.i.c. at the end of its name It must have an asset lock in its articles of association. This means that its property and assets must be used solely or mainly for its objects and it cannot dispose of them except to a charity or another CIC It must also have a cap on distributions in its articles which will set a limit on what percentage of income or profits it can pay out to investors as dividends or loan interest repayments. This is currently fixed at Bank of England Base Rate + 5% It will be managed by its directors but with only limited powers given to members or shareholders. There will also be reasonable limits on directors salaries and benefits to make transparent its obligation to operate for the benefit of the community. It must produce specific information in its annual report to explain and justify its community benefit work and status and show that it has involved its stakeholders in its operations. How do you register as a CIC? A new company must submit 4 documents to Companies House plus a filing fee of 35: Memorandum and articles conforming to the model for a CIC Companies CIC36 community interest company statement Companies form 10 declaration of first directors and company secretary Companies form 12 application to register as a limited company. How do you convert into a CIC? An existing company (other than a registered charity) can convert into a CIC by amending its name to include the words c.i.c. and its memorandum and articles of association to comply with the features listed above. A company can only make these amendments by passing special resolutions at a quorate general meeting of its members. The general meeting must be called on at least 21 days notice and the resolutions must be passed by at least a 75% majority vote of members present and entitled to vote at the meeting. The resolution must be filed at Companies House together with: A filing fee of 25 Form CIC37 and a copy of the resolution within the specified time limits An amended copy of the memorandum and articles. A charitable company that wishes to convert into a CIC can only do so with the written consent of the Charity Commission and after its trustees/directors have taken independent financial advice. Once it has the Commission s consent, the charity must pass the appropriate special resolutions and submit them, with the above documents, to Companies House with a copy of the consent and a filing fee of 25. 3
4 The Regulator s role All applications for CIC registration or conversion are first examined by the Regulator before being passed on to the Registrar of Companies. If the application is successful, the Registrar will register the CIC and issue the necessary documents. If the Regulator refuses an application, he notifies the Registrar who will send the decision and the Regulator s reasons for it to the applicant. Applicants who are aggrieved by a refusal may appeal initially to the Regulator who will pass it on to an independent Appeals Officer appointed by the Secretary of State. Applicants must file their appeal within 2 months of the Regulator s decision and the Appeals Officer will investigate the decision and set a timetable for meetings and representations. The Appeals Officer s decision to grant or refuse registration/conversion will be given in writing and state the reasons for the decision. How are CICs financed? CICs are able to access grants and soft loans from the Community Development Finance Institutions (CDFIs) which are not available to private sector businesses and investors can get 5% tax relief if they invest in CDFIs. You can get more information on these in Yorkshire and Humberside from However, the Government expects CICs to finance themselves primarily through inward investment and trading. The main forms of inward investment are: issues of shares (for CICs that are companies limited by shares) on which limited dividends can be paid out from the trading profits loans to a CIC from individuals and businesses on which limited interest will be paid (that is, less than the full commercial lending rate) issuing debentures. Debentures are similar to mortgages: they are loans to the CIC which are secured on its assets and are probably the most attractive to banks, because of the security. General information on finance and grants is available at further information and potential sources of capital for CICs include: What duties and responsibilities do a CIC s directors have? All company directors have duties towards the members of the company, to third parties who deal with the company (e.g. customers and stakeholders) and to Companies House. 4
5 Duties to members: Each director has a personal duty to act honestly and in good faith when dealing with the membership; conduct the company s business with a reasonable degree of care and skill, given her/his knowledge and experience; and promote the success of the company for its members benefit. Collectively, directors must hold annual general meetings once in each calendar year and not more than 15 months apart and ensure that members receive an annual report, the annual accounts and any proposed resolutions in good time beforehand according to company law regulations All directors should declare their personal financial interests in their company s dealings, so they do not make secret profits or gains from its business. No director must act while disqualified from being a director (e.g. because of criminal convictions for dishonesty, personal insolvency or being under a disqualification order) All directors must ensure they act within their powers and the objects of the company. Duty to third parties To deal honestly and in good faith especially in relation to creditors. Duties to Companies House File annual accounts and annual return within the time limits. NB Late filing will result in the company being automatically fined. The fines start at 100 for being 1 day to 3 months late, 3 months plus 1 day to 6 months late is 250, 6months plus 1 day to 12 months 500, over 12 months late the fine is The time limit for filing is 10 months to the day after the company s financial year end. From this period will be 9 months. Notify changes of directors or the company secretary on the correct forms within 14 days after each change Notify other changes (e.g. address of registered office, address where company records kept) on the correct form within 14 days after the change. What is the role of the Company Secretary? Every company must by law have a company secretary but this person does not have to be a member or director of the company unless the company s Articles of Association require it. From , private companies will no longer be required to have a secretary but must still ensure the duties below are performed. Company secretaries are administrative officers who must make sure that the company keeps certain records and provides the information required by the Companies Acts. These include: 1 Maintaining the statutory registers, that is:- the register of members the register of directors and secretaries the register of directors' interests the register of charges 5
6 2 Ensuring that Companies House forms are filed promptly. 3 Providing members and auditors with proper notice of meetings as specified in the Articles of Association and ensuring the correct papers (e.g. accounts, annual reports, previous minutes and copies of proposed resolutions) are sent out with the notice. 4 Sending Companies House copies of special, extraordinary and written resolutions and agreements within 15 days after they have been passed/agreed 5 Keeping (or arranging for the keeping), of minutes of directors' meetings and general meetings. 6 Ensuring that people can inspect the company s records. For example, members of the company and members of the public are entitled to a copy of the company's register of members, and members of the company are entitled to inspect the minutes of its general meetings (but not directors meetings) and to have copies of these minutes. 7 Custody and use of the company seal. Companies don t need to have a company seal but if they do, the secretary ensures its safekeeping and authorised use. What is the difference between a charitable limited company and a CIC? Advantages and disadvantages of being a charity rather than a CIC Advantages access to funding that non-charitable bodies cannot have (e.g. from many grantmaking trusts) credibility with the public and ability to represent community interests free access to the advisory powers of the Charity Commission tax and rating exemptions from: corporation tax on surplus income capital gains tax stamp duty on leases and conveyances inheritance tax business rates (80% rate relief) None of these tax reliefs are available to CICs. Disadvantages time-consuming registration process with the Charity Commission restrictions on their objects and powers. (Many of the aims available to CICs may not be legally charitable ) restrictions on commercial taxable trading and on non-party-political activity. (CICs have no such restrictions provided these activities are within their objects and powers.) directors cannot usually be paid from a charity s funds except for reasonable outof-pocket expenses. (Directors of CICs may be paid reasonable remuneration depending on the scope of their duties and the size of the enterprise.) 6
7 Below is a flowchart to help an organisation decide whether it should be a charity or a CIC. Are your aims(objects) entirely charitable Yes No CIC Will your board members act unpaid in respect of all their services, except for legitimate out of pocket expenses Yes No CIC Is all surplus income to be applied only for the objects and not paid out to members charity Yes No CIC Should a CIC be a share company or a guarantee company? Whether a CIC should register as a share company or a guarantee company depends on how it is financed and how wants to apply its surplus funds. If it is primarily financed by outside investors, it will need to be able to distribute some of these surpluses each year to its investors. So it must be able to issue shares so it can pay annual dividends. If it is to be financed by grants or by loans repayable from trading receipts and therefore needs to invest all its surpluses in developing its business, then it can register as a guarantee company, which will have no shares. A CIC that is formed as a trading arm for a charity will usually be a share company with the charity owning all the shares. 7
8 Where to go for more help and advice SCEDU and Sheffield Enterprise Clusters are both based at: 53 Mowbray Street Sheffield S3 8EN SCEDU Tel: Fax: Sheffield Enterprise Clusters: Tel: Voluntary Action Sheffield Bev Cross, Legal Consultant The Circle 33 Rockingham Lane Sheffield S1 4FW Tel: Fax: CIC Regulator CIC Team Room 3.68, Companies House Crown Way, Maindy Cardiff CF14 3UZ Tel: hour voic Fax: Web: 8
9 INFORMATION SHEETS available from VAS : Accessible Organisations Acquiring and Managing Premises Action Planning Business Planning Child and Vulnerable Adult Protection Closing Down Community Interest Companies Constitutions Contracts and Procurement Data Protection Disciplinary and Grievance Procedures Employing a Worker Handling Redundancies Health and Safety Incorporated Charities Insuring your Organisation Involving Volunteers Legal Structures Management Committees Monitoring and Evaluation Parents and Carers at Work Quality Assurance Starting Up Trading and Fund-raising The Circle 33 Rockingham Lane Sheffield S1 4FW Tel: Fax: info@vas.org.uk Website: Registered charity no: Company limited by guarantee no:
CHARITABLE INCORPORATED ORGANISATIONS
CHARITABLE INCORPORATED ORGANISATIONS This sheet gives some basic information about the charitable incorporated organisation which is due to begin to become available to charities from January 2013. CHARITABLE
More informationA GUIDE TO LEGAL FORMS FOR BUSINESS NOVEMBER 2011
A GUIDE TO LEGAL FORMS FOR BUSINESS NOVEMBER 2011 Guide to Legal Forms Unincorporated legal forms: The distinguishing feature of unincorporated forms is that they have no separate legal personality. There
More informationOffice of the Regulator of Community Interest Companies: Introduction and guidance notes. Chapter 3: Limited Companies NOVEMBER 2012
Office of the Regulator of Community Interest Companies: Introduction and guidance notes Chapter 3: Limited Companies NOVEMBER 2012 Contents 3.1. Community interest companies - limited liability companies...
More informationThe Companies Act 1862-1900. Private Company Limited by Guarantee and not. having a Share Capital. Memorandum of Association. Children North East
The Companies Act 1862-1900 Private Company Limited by Guarantee and not having a Share Capital Memorandum of Association of Children North East As amended by special resolution dated 11 July 2007 1. Name
More informationClosing Down SOLVENCY
Closing Down CHARITABLE LIMITED COMPANIES There are three This information sheet is intended as a brief overview of the procedures available to organisations that wish to wind up or close down. It is not
More informationOffice of the Regulator of Community Interest Companies: information and guidance notes. Chapter 9: Corporate Governance MARCH 2013
Office of the Regulator of Community Interest Companies: information and guidance notes Chapter 9: Corporate Governance MARCH 2013 Contents 9.1. Role of Directors and Members...3 9.1.1. Corporate Governance
More informationThe Companies Act 2006. Company Limited by Guarantee. Articles of Association. Action 21 (2010) A Company Limited By Guarantee
The Companies Act 2006 Company Limited by Guarantee Articles of Association of Action 21 (2010) A Company Limited By Guarantee The Companies Acts 2006 COMPANY LIMITED BY GUARANTEE Articles of Association
More informationE-Zec Medical Transport Services Ltd
E-Zec Medical Transport Services Ltd Terminal Building Redhill Aerodrome, Kingsmill Lane Redhill Surrey RH1 5YP Licence Number: 200120 Date of Issue Version Number 19/06/2015 1.0 Dr David Bennett, Chief
More informationChapter 7: Financing Community Interest Companies
Office of the Regulator of Community Interest Companies: Information and guidance notes Chapter 7: Financing Community Interest Companies OCTOBER 2014 Contents 7.1. Financing: Companies limited by guarantee
More informationMemorandum And Articles Of Association for Company Limited by Guarantee. Memorandum of Association. Transport Planning Society Ltd
Memorandum And Articles Of Association for Company Limited by Guarantee Memorandum of Association of Transport Planning Society Ltd 1. Name The Company's name is The Transport Planning Society Ltd. 2.
More informationInformation Pack Community Interest Companies. Issued by the Regulator of Community Interest Companies
Information Pack Community Interest Companies Issued by the Regulator of Community Interest Companies March 2010 1 FOREWORD...4 THE ROLE OF THE REGULATOR...7 DEFINING A COMMUNITY...9 THE COMMUNITY...9
More informationPREFACE. How to Register a Business in Namibia 2
How to Register a Business in Namibia 1 PREFACE This booklet explores the ways how the choice of business entity may be important to you as a business person. This guide is designed to be your introduction
More informationTHE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION SHELTERBOX TRUST. Companies Act 2006
Company No: 04612652 Charity No: 1096479 THE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION OF SHELTERBOX TRUST Companies Act 2006 Company limited
More informationWhat s the best legal structure?
Playing by the rules: What s the best legal structure? Background You have a number of options when defining the legal structure of your group or organisation. What is a legal structure? By legal structures
More informationCORPORATE SERVICES IMMIGRATION. Directors Duties and Responsibilities
CORPORATE SERVICES IMMIGRATION Directors Duties and Responsibilities A. COMMON LAW DUTIES Directors are mainly responsible for the overall management of the company. In exercising their powers, they must
More informationMoving forward together. Guide to running a company in the UK
Moving forward together Guide to running a company in the UK It is relatively easy to set up and run a limited company in the UK, but it is essential that you take proper advice and you comply with relevant
More informationThe board of directors of a company is primarily responsible for:
The board of directors of a company is primarily responsible for: Determining the company s strategic objectives and policies. Monitoring progress towards achieving the objectives and policies. Appointing
More informationEvery company must have a company secretary, who cannot be the same person as a [Companies Act 1985 s.283(1)]
Roles and Responsibilities of the Company Secretary Every company must have a company secretary, who cannot be the same person as a [Companies Act 1985 s.283(1)] sole director. The company secretary is
More informationThe Wheel. useful information for setting up a voluntary organisation
The Wheel useful information for setting up a voluntary organisation Introduction When an organisation is starting up it is important for the members to consider the following points carefully: Whether
More informationUnincorporated and incorporated What s the difference?
Unincorporated and incorporated What s the difference? Unincorporated Incorporated Unlimited personal liability (joint & several) Limited personal liability (usually 1), i.e. committed to a maximum loss
More informationCharities and Institutions of a Public Character
Code of Governance for Charities and Institutions of a Public Character Issued by: THE CHARITY COUNCIL 19 January 2011 CONTENT INTRODUCTION WHY A CODE OF GOVERNANCE? 05 PREAMBLE 05 TIERED GUIDELINES 06
More informationLEGAL BASICS TO COMPANY FORMATION COMPANY STATUTORY OBLIGATIONS
LEGAL BASICS TO COMPANY FORMATION and COMPANY STATUTORY OBLIGATIONS Prepared by: BROWNE GIBSON HARVEY P.C. Telephone: 24567 Facsimile: 21567/25567 FORMATION AND STRUCTURE OF A COMPANY In considering venturing
More informationCompany Formation August 2003
Company Formation August 2003 Company Formation Contents Back to top Introduction Introduction 1. New companies 2. Public limited companies 3. Single member companies 4. Re-registration 5. Publication
More informationInsolvency: a guide for shareholders
INFORMATION SHEET 43 Insolvency: a guide for shareholders If a company is in financial difficulty, it can be put under the control of an independent external administrator. The role of the external administrator
More informationTHE COMPANIES ACT 2006 PRIVATE COMPANY LIMITED BY GUARANTEE MEMORANDUM OF ASSOCIATION CAMBRIDGE UNIVERSITY MUSICAL SOCIETY
THE COMPANIES ACT 2006 PRIVATE COMPANY LIMITED BY GUARANTEE MEMORANDUM OF ASSOCIATION of CAMBRIDGE UNIVERSITY MUSICAL SOCIETY ifelix-10220-jcgbrqidxa.doc/27 2011 Jun 1 COMPANY NOT HAVING A SHARE CAPITAL
More informationHow To Become A Director Of A Company
Company Directors' Responsibilities CONTENTS Company Directors' Responsibilities 2 Disqualification 4 The Powers And Duties Of Company Directors 6 Basic Statutory Obligations Of A Company Under The Companies
More informationThe new Hong Kong Companies Ordinance, Chapter 622 of the Laws of Hong Kong, (the New CO )
New Hong Kong Companies Ordinance Introduction The new Hong Kong Companies Ordinance, Chapter 622 of the Laws of Hong Kong, (the New CO ) came into operation on 3 March 2014. The New CO consists of 21
More informationLEGAL STRUCTURE OF YOUR CLUB
LEGAL STRUCTURE OF YOUR CLUB It is prudent for clubs to periodically review their legal form in order to ensure that they are operating the most appropriate structure for the nature of their operations.
More informationSelf-Help Kit. Limited Company. Guidance Manual. The contents of this Manual have been approved by H M Williams Chartered Accountants
Self-Help Kit Limited Company Guidance Manual The contents of this Manual have been approved by H M Williams Chartered Accountants 3 How to use this Kit This Lawpack Kit can help you achieve an important
More informationLOAN TO CORPORATE ENTITY - APPLICATION FORM
(this page also serves as the Enquiry Form) INTRODUCER DETAILS Firm & FCA No: Current CCL No: Email: Date: Network / Mortgage Club: Tel / Mobile: Product Required: PROPERTY DETAILS Full Address Of The
More informationCORPORATE AFFAIRS COMMISSION
CORPORATE AFFAIRS COMMISSION FORM CAC/IT 1 INCORPORATED TRUSTEES APPLICATION FORM NAME OF THE ASSOCIATION......... REGISTERED OFFICE ADDRESS........... AIMS AND OBJECTS OF THE ASSOCIATION S/N AIMS/OBJECTS
More informationAsset Transfer Stage 2 Main Application Form
Asset Transfer Stage 2 Main Application Form If you want to apply for an Asset Transfer, you will need to fill in this application form. Please read the accompanying guidance notes while you are filling
More informationGUIDE TO INCORPORATING COMPANIES
GUIDE TO INCORPORATING COMPANIES IRELAND CURRENCY Euro ( ). EXCHANGE CONTROL There is no exchange control in Ireland. There are, however, certain other restrictions which should be noted. Pursuant to the
More informationInsolvency: a glossary of terms
INFORMATION SHEET 41 Insolvency: a glossary of terms This is a brief explanation of some of the terms you may come across in company insolvency proceedings. Please note that this glossary is for general
More informationLIONS CLUBS INTERNATIONAL MD 105
LIONS CLUBS INTERNATIONAL MD 105 CHARITY PACK FOR CLUBS IN ENGLAND AND WALES Contents: PACK 1: FOR NEW CHARITABLE TRUSTS (Charities Act 1993 as amended by the Charities Act 2006) 1. Why does a Lions Club
More informationSAMPLE OF AN INCORPORATION AGREEMENT ADOPTING THE TABLE 1 ARTICLES INCORPORATION AGREEMENT
APPENDIX A SAMPLE OF AN INCORPORATION AGREEMENT ADOPTING THE TABLE 1 ARTICLES INCORPORATION AGREEMENT We propose to form a company under the Business Corporations Act (BC) under the name of (the Company
More informationSocial Enterprise - From a Tax Perspective
Shared experience. Social Enterprise - From a Tax Perspective What is a social enterprise? A social enterprise is a business with primarily social objectives whose surpluses are principally reinvested
More informationJPA BRENSON LAWLOR The Companies Act 2014 will mean big changes for your company
JPA BRENSON LAWLOR The Companies Act 2014 will mean big changes for your company 1 The new Companies Act 2014 which becomes law on 1st June 2015 and will affect every company in the State. At JPA Brenson
More informationInsolvency: a glossary of terms
Insolvency: a glossary of terms This is a brief explanation of some of the terms you may come across in company insolvency proceedings. Please note that this glossary is for general guidance only. Many
More informationHOW TO REGISTER A BUSINESS IN NAMIBIA. Companies and Patents Registration Office. A Directorate of the Ministry of Trade and Industry
HOW TO REGISTER A BUSINESS IN NAMIBIA Companies and Patents Registration Office A Directorate of the Ministry of Trade and Industry FOREWORD This booklet explores the ways how the choice of business entity
More informationTHE COMPANIES ACT 1985 AND 1989 PRIVATE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL MEMORANDUM OF ASSOCIATION OF SASC
Memorandum of Association-final amended September 2014 1 of 7 THE COMPANIES ACT 1985 AND 1989 PRIVATE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL MEMORANDUM OF ASSOCIATION OF SASC A company
More informationAnnex B: Payment and Expenses for Governors
A REVIEW OF FURTHER EDUCATION AND SIXTH FORM COLLEGE GOVERNANCE Annex B: Payment and Expenses for Governors JULY 2013 Annex B: Payment and Expenses for Governors Introduction 1. This document has been
More informationThe Limited Partnership Bill, 2010 THE LIMITED LIABILITY PARTNERSHIP BILL 2010 ARRANGEMENT OF CLAUSES PART I PRELIMINARY. Clause
THE LIMITED LIABILITY PARTNERSHIP BILL 2010 ARRANGEMENT OF CLAUSES 1 Short title and commencement. 2 Interpretation. PART I PRELIMINARY Clause PART II REGISTRAR AND REGISTRAR OF LIMITED LIABILITY PARTNERSHIPS
More informationFlat Management Companies
October 2006 Flat Management Companies A DTI SERVICE Contents Introduction... 02 1 Do you need a company?... 03 2 Statutory accounts... 09 3 Accounting records and statutory accounts - a worked example...
More informationTHE COMPANIES ACT 2006 PRIVATE COMPANY LIMITED BY GUARANTEE MEMORANDUM OF ASSOCIATION FOREVER ACTIVE FORUM LIMITED
THE COMPANIES ACT 2006 PRIVATE COMPANY LIMITED BY GUARANTEE MEMORANDUM OF ASSOCIATION OF FOREVER ACTIVE FORUM LIMITED Each subscriber to this memorandum of association wishes to form a Company under the
More informationOSCr. SCIOs: A Guide. Guidance on the Scottish Charitable Incorporated Organisation for charities and their advisers
SCIOs: A Guide Guidance on the Scottish Charitable Incorporated Organisation for charities and their advisers Page : 02 SCIOs: A Guide 2011 Page : 03 SCIOs: A Guide 2011 Contents Page 1. What is a SCIO?
More informationTRUST OR COMPANY SERVICE PROVIDER APPLICATION FOR AUTHORISATION
TRUST OR COMPANY SERVICE PROVIDER APPLICATION FOR AUTHORISATION In accordance with the CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT, 2010 as amended by the Criminal Justice Act, 2013.
More informationCouncil Tax Relief on the Grounds of Hardship
Council Tax Relief on the Grounds of Hardship 1. Introduction 1.1 The Local Government Finance Act 1992 section 13a has always allowed for a discretionary relief of Council Tax in exceptional circumstances
More informationInsolvency: a guide for directors
INFORMATION SHEET 42 Insolvency: a guide for directors This information sheet provides general information on insolvency for directors whose companies are in financial difficulty, or are insolvent, and
More informationModel Constitution for a Charitable Unincorporated Association
Model Constitution for a Charitable Unincorporated Association It may be appropriate to establish an unincorporated association where the organisation: is to be relatively small in terms of assets; has
More informationTRUSTEES & GOVERNANCE. The Essential Trustee What you need to know
TRUSTEES & GOVERNANCE The Essential Trustee What you need to know The Charity Commission The Charity Commission is the independent regulator of charities in England and Wales. Its aim is to provide the
More informationCOMPANY NOT HAVING A SHARE CAPITAL. Articles of Association for a Charitable Company
These explanatory notes are for advice and reference only and in no way form part of the text of the Articles of Association. Details about the requirements of the Companies Act 2006 are available from
More informationHow To Protect Your Personal Information At A College
Data Protection Policy Policy Details Produced by Assistant Principal Information Systems Date produced Approved by Senior Leadership Team (SLT) Date approved July 2011 Linked Policies and Freedom of Information
More informationStarting up. Charitable Trusts: Model Trust Deed
Starting up Charitable Trusts: Model Trust Deed The Charity Commission The Charity Commission is the independent regulator of charities in England and Wales. Its aim is to provide the best possible regulation
More informationHow to incorporate. A guide to the Associations Incorporation Act 1985. www.cbs.sa.gov.au
* How to incorporate A guide to the Associations Incorporation Act 1985 www.cbs.sa.gov.au 1 how to incorporate The information provided in this brochure is of a general nature only and should not be relied
More informationThe Companies Act 2014
The Companies Act 2014 Agenda new company types overview of changes in the Act impact on the role of directors accounting matters What has happened? Companies Act 2014 (the "Act") consolidates all old
More informationSummary of legal structures
Summary of legal structures Summary of legal structures Below is an outline of the most common legal structures used within the social enterprise sector. The information provided should be used in conjunction
More information[ ] numbers in brackets refer to the clause number in the regulations.
DMCC COMPANY REGULATIONS (1/03) AT A GLANCE This document sets out to summarise the main Company Rules and Regulations applicable within the DMCC Free Zone. You are recommended to read the full edition
More informationCO-OPERATIVES IN ONTARIO LEGAL REQUIREMENTS
CO-OPERATIVES IN ONTARIO LEGAL REQUIREMENTS Financial Services Commission of Ontario Licensing and Market Conduct Division 5160 Yonge Street, 4 th floor P.O. Box 85 Toronto, ON M2N 6L9 Tel: (416) 226-7776
More informationTRUSTEE TRAINING The Charity Commission states that: Role of the Trustees Compliance Duty of prudence Duty of care
TRUSTEE TRAINING The Charity Commission states that: Trustees have and must accept ultimate responsibility for directing the affairs of a charity, and ensuring that it is solvent, well-run, and delivering
More informationWhat is a voluntary organisation or charity? (May 2012)
What is a voluntary organisation or charity? (May 2012) This information sheet briefly sets out what is a voluntary or community organisation and whether your organisation might want to be charitable or
More informationRULES OF PROCEDURE FOR THE BOARD OF DIRECTORS, THE EXECUTIVE CHAIRMAN AND THE GENERAL MANAGER IN DOLPHIN GROUP ASA
RULES OF PROCEDURE FOR THE BOARD OF DIRECTORS, THE EXECUTIVE CHAIRMAN AND THE GENERAL MANAGER IN DOLPHIN GROUP ASA ADOPTED BY THE BOARD OF DIRECTORS ON 27 APRIL 2015 1. THE BOARD OF DIRECTORS The Board
More informationCORPORATE SERVICES IMMIGRATION. Memorandum On The Incorporation Of A Private Limited Company In Singapore
CORPORATE SERVICES IMMIGRATION Memorandum On The Incorporation Of A Private Limited Company In Singapore 1. Proposed Name of the Company A company cannot be registered under a particular name unless that
More informationCompanies Act 2014 An Overview by Sean Kavanagh, of Company Formations International Limited
Companies Act 2014 An Overview by Sean Kavanagh, of Company Formations International Limited Overview The genesis of this new Act, which is the largest in the history of the State, can be traced back to
More informationsocial enterprise A CIPFA charities panel briefing paper November 2010
social enterprise A CIPFA charities panel briefing paper November 2010 Contents What is a social enterprise? 3 Legal structures 4 Size and scope of social enterprise sector 6 How long have they been around?
More information3. FACT SHEET ON INCORPORATED SOCIETIES
DECEMBER 2005 FACT SHEET ON 3. FACT SHEET ON This fact sheet deals with incorporated societies. These are organisations that have at least 15 members and are registered under the Incorporated Societies
More informationInsolvency: a guide for directors When Where How - What
Insolvency: a guide for directors When Where How - What Contents 1. About this guide... 3 What is insolvency?... 3 What is The Insolvency Service?... 3 What is compulsory liquidation (winding up by the
More informationBuying a Company Off the Shelf
Buying a Company Off the Shelf If time is an important factor, you can consider buying a ready-made company. The exact procedure will depend on the company formation agents, including online agents, involved,
More informationLITHUANIA LAW ON COMPANIES
LITHUANIA LAW ON COMPANIES Important Disclaimer This translation has been generously provided by the Lithuanian Securities Commission. This does not constitute an official translation and the translator
More informationRESERVE BANK OF ZIMBABWE
RESERVE BANK OF ZIMBABWE BANK SUPERVISION DIVISION LICENSING REQUIREMENTS FOR MONEYLENDING INSTITUTIONS MINIMUM REQUIREMENTS FOR MONEYLENDING INSTITUTIONS 1. Completed Application Form accompanied by proof
More informationApproval of test houses Application form guidance notes
Approval of test houses Application form guidance notes Introduction This guidance has been written to help you complete the application form GCTHA and the annex GCTHA/AA. Please read this document carefully
More informationUniversity of Trier English Law Helen Campbell, Lecturer
University of Trier English Law Helen Campbell, Lecturer Company Law Types of Business Associations --sole trader --partnership --company (aka corporation: management is separated from ownership) --limited
More information. \\ \3X S4><o q- pi. Australian Community Philanthropy Ltd. Constitution. A company limited by guarantee
. \\ \3X S4>
More informationSurname... Other names... Address... Post Code... Phone number/s... Email address...
England and Wales Cricket Board Application for Registration as an Agent Lord s Cricket Ground London NW8 8QZ Tel: 020 7432 1200 Fax: 020 7289 5619 E-mail: agents@ecb.co.uk Surname... Other names... Address......
More informationTRUST DEED LONG LANE PASTURE TRUST. 1 Prince s Avenue, Finchley, London N3 2DA Tel 020 8346 5011 Fax 020 8346 6509
TRUST DEED of LONG LANE PASTURE TRUST 1 Prince s Avenue, Finchley, London N3 2DA Tel 020 8346 5011 Fax 020 8346 6509 CONTENTS Clause Subject Page 1 Introduction 1 2 Name and Objects 3 Powers 2 4 The Trustees
More informationASSOCIATION OF INDEPENDENT LSCB CHAIRS LIMITED ARTICLES OF ASSOCIATION
ASSOCIATION OF INDEPENDENT LSCB CHAIRS LIMITED ARTICLES OF ASSOCIATION CONTENTS CLAUSE 1. Interpretation... 1 2. Object... 3 3. Powers... 3 4. Not for distribution... 4 5. Winding up... 5 6. Guarantee...
More informationKAZAKHSTAN LAW ON JOINT STOCK COMPANIES
KAZAKHSTAN LAW ON JOINT STOCK COMPANIES Important Disclaimer This does not constitute an official translation and the translator and the EBRD cannot be held responsible for any inaccuracy or omission in
More informationA Guide for Creditors
A Guide for Creditors Contents 1. About this guide... 3 2. What is The Insolvency Service?... 3 3. What is insolvency?... 3 4. What are the insolvency procedures?... 4 5. Who deals with the insolvency
More informationInsolvency: a guide for directors When Where How - What
Insolvency: a guide for directors When Where How - What Contents 1. About this guide... 3 What is insolvency?... 3 What is The Insolvency Service?... 3 What is compulsory liquidation (winding up by the
More informationTHE Companies Act 2014
THE Companies Act 2014 One of its striking features is the general structure which the Act has adopted. For the first time in Irish company law, the most common company type, the private company limited
More informationTHE COMPANIES ACT 2006 PRIVATE COMPANY LIMITED BY GUARANTEE ARTICLES OF ASSOCIATION of CORNWALL PARTNERS IN CARE LIMITED
THE COMPANIES ACT 2006 PRIVATE COMPANY LIMITED BY GUARANTEE ARTICLES OF ASSOCIATION of CORNWALL PARTNERS IN CARE LIMITED PART 1 INTERPRETATION AND LIMITATION OF LIABILITY 1 Defined terms (1) The regulations
More informationConstitution. Constitution CEREBRAL PALSY AUSTRALIA. 25 th November 2009
Constitution Constitution CEREBRAL PALSY AUSTRALIA 25 th November 2009 Contents Table of contents Constitution 1 1 Company s name 1 2 Company s purposes 1 3 Company s powers 1 4 Not for profit status 2
More informationCOMPANIES LIMITED BY GUARANTEE
COMPANIES LIMITED BY GUARANTEE A. Members liabilities and responsibilities Liability of members The liability of members of a company limited by guarantee is limited to the amount they have agreed to contribute,
More informationSUBSIDIARY LEGISLATION 386.10 COMPANIES ACT (CELL COMPANIES CARRYING ON BUSINESS OF INSURANCE) REGULATIONS
CARRYING ON BUSINESS OF INSURANCE) [S.L.386.10 1 SUBSIDIARY LEGISLATION 386.10 COMPANIES ACT (CELL COMPANIES CARRYING ON BUSINESS OF INSURANCE) REGULATIONS LEGAL NOTICE 243 of 2010. 30th April, 2010 1.
More informationAssociation of Self-Insured Employers of Queensland Inc
Association of Self-Insured Employers of Queensland Inc PO Box 2477 Fortitude Valley Qld 4006 ABN 91 158 806 819 ASIEQ CONSTITUTION AND RULES 1. WORDS AND EXPRESSIONS TO HAVE MEANING IN THE ACT A word
More informationPart 3. Company Formation and Related Matters, and Re-registration of Company
Part 3 Division 1 Subdivision 1 Section 66 A3491 Part 3 Company Formation and Related Matters, and Re-registration of Company Division 1 Company Formation Subdivision 1 General Requirements for Formation
More informationInquiry Report My Community UK. Registered Charity Number 1137137
Inquiry Report My Community UK Registered Charity Number 1137137 A statement of the results of an inquiry into My Community UK (registered charity number 1137137). Published on 30 June 2015. The charity
More informationGovernor Cuomo Signs New York Non-Profit Revitalization Act of 2013
Governor Cuomo Signs New York Non-Profit Revitalization Act of 2013 On Thursday, December 19, Governor Cuomo signed the New York Non-Profit Revitalization Act of 2013 which aims to reduce burdens on the
More informationLIMITED LIABILITY PARTNERSHIP ACT
CAP. 30A LAWS OF KENYA LIMITED LIABILITY PARTNERSHIP ACT CHAPTER 30A Revised Edition 2012 [2011] Published by the National Council for Law Reporting with the Authority of the Attorney-General www.kenyalaw.org
More informationINTRODUCTION... 3 OVERSEA COMPANIES... 9
Mdina Malta INTRODUCTION... 3 FORMATION AND REGISTRATION OF COMPANIES... 4 PRIVATE OR PUBLIC COMPANY... 4 MEMORANDUM AND ARTICLES OF ASSOCIATION... 4 WHO MAY INCORPORATE... 5 TIME REQUIRED FOR INCORPORATION...
More informationIssues Relating To Organizational Forms And Taxation. MALAYSIA Skrine
Issues Relating To Organizational Forms And Taxation MALAYSIA Skrine CONTACT INFORMATION Harold Tan Kok Leng Skrine Unit 50-8-1, 8th Floor Wisma UOA Damansara 50 Jalan Dungun Damansara Heights 50490 Kuala
More informationHow To Run A Sports Club
A GUIDE TO STARTING A SPORTS CLUB Administration and management In this section we explore the different aspects of managing and administering your sports club. Of course, your club is primarily about
More informationDecember 2006. Company Formation A DTI SERVICE
December 2006 Company Formation A DTI SERVICE All the Guidance Booklets listed below together with all our other published information is available on the Companies House website: www.companieshouse.gov.uk
More informationAPPROVED Sberbank Supervisory Board decision Minutes No. dated September 2014. Sberbank Corporate Secretary Regulations
APPROVED Sberbank Supervisory Board decision Minutes No. dated September 2014 Sberbank Corporate Secretary Regulations Moscow, 2014 1 TABLE OF CONTENTS 1. GENERAL PROVISIONS 2. QUALIFICATION REQUIREMENTS
More informationPlayers Agent Registration Regulations
Players Agent Registration Regulations 1 Definitions 1.1 In these, the following terms shall have the following meanings: Agency Activity means acting in any way and at any time in the capacity of agent,
More informationThe Things You Need to Know Before and After Forming a Legal Entity - From the Company Secretarial Perspective 成 立 公 司 你 要 知
The Things You Need to Know Before and After Forming a Legal Entity - From the Company Secretarial Perspective 成 立 公 司 你 要 知 Speaker: Tim Hui 15-March-2011 Hong Kong Arts Administrators Association Disclaimer
More informationCo-Operative Organisations. Establishing a Co-Operative Company or Industrial & Provident Society. What is a co-operative?
Co-Operative Organisations: Establishing a Co-Operative Company or Industrial & Provident Society What is a co-operative? A co-operative is a form of business organisation that is owned and democratically
More informationVoluntary liquidation under the BVI Business Companies Act 2004
Voluntary liquidation under the BVI Business Companies Act 2004 JULY 2013 For more briefings visit mourantozannes.com This briefing is only intended to give a summary and general overview of the subject
More informationCommercial Mortgage Application Form
Aldermore 1st Floor, Block B Western House Lynch Wood PETERBOROUGH PE2 6FZ Commercial Mortgage Application Form t 01733 404500 f 0800 0664429 e info@aldermore.co.uk w aldermore.co.uk Intermediary details
More informationCORPORATE GOVERNANCE AND KEY COMPANY LAW ISSUES IN CHALLENGING ECONOMIC TIMES
CORPORATE GOVERNANCE AND KEY COMPANY LAW ISSUES IN CHALLENGING ECONOMIC TIMES INTRODUCTION Directors stand in a fiduciary relationship to the company and there are general fiduciary duties imposed upon
More information