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Setting up a Community Interest Group

Setting Up a Community Interest Company CIC

If you want to set up a company that intends to carry out work for the benefit of the community, a CIC can apply to become incorporated once they have been approved by the CIC regulator. The CIC regulator will also monitor and enforce the rules.
 

1              Use Form IN01 

Make sure you complete the appropriate sections, as your application may be rejected if you fill out the incorrect section or miss one entirely.

2              Articles of Association

The memorandum sets out the intention of the members to form a company and how many shares, this can be a very short document as all the rules governing the company are contained within the articles of association. The wording of the memorandum is set and cannot be altered.

The articles are your rulebook to ensure that all members know how the company is run and how decisions are made. The members can decide on what rules are in the articles, as long as they are legal. Many businesses use the model articles ( a predefined set of rules). If you wish to deviate from the model articles you should obtain professional advice.

3              Complete Form CIC36

Complete the application to become a CIC 

4              The fees 

The fees for a CIC are £35 as it also includes a fee for the CIC regulator.

5             Sensitive name or expression in your CIC name

If you wish to use a sensitive name or expression you will need confirmation from the Government department or authorative body that you have sought their views. Read our "What's in a name." article for additional info

What happens next

Companies House carries out a number of checks, and will check to see if any of the Directors are on the Disqualified Director Register. This is available on the companies house website, check to make sure before you apply that no-one is on that register.The CIC Regualator will also carry out checks that the company meets the requirement to be classed as a CIC.

If all the checks come back positive the company will be incorporated and a Certificate of Incorporation (CoI) will be issued. This signed document contains the name, your number on the register, date and the type and location of the company. This is proof that you have met the Companies Act 2006 requirement and that the Company has been incorporated, so don’t place an order for stationery, put the name on the website or apply for bank accounts until you have this document.