Setting up a Community Interest Company (CIC)
This video is designed for you if you have already made an informed choice about the type of legal structure you wish to set up for the delivery of your service and activities.
If you are unsure what legal structure is right for you and would like more information, come and join us at the 3VA training session on ‘Choosing the Right Legal Structure for your organisation’ before watching this video.
The Video is supported by a Practical Guide to Completing the Articles of Association for a Large Membership Limited by Guarantee Company.
The aim of the video is to enable you to understand the key elements of the application process to become a CIC and use this knowledge to complete a successful application for CIC registration. It will explore the implications / options for all aspects of decision making and governance within the Constitution (Articles of Association).
By the end of the video you will be able to understand:
- the principles of registration and the purpose of the documentation to be completed, namely the IN01, CIC36, Memorandum and the Articles of Association;
- the role and relevance of the Articles of Association (i.e. the Constitution) in good governance;
- the choices to be made in the Articles that will impact on the day-to-day decision making and running of the organisation;
- and explain to the public and funders why being a CIC is the best fit for your group;
- the general rights and responsibilities of company Directors.
The video will not help with the following issues, which should be discussed in 1:1 meeting with your 3VA Development Officer:
- Is the CIC the right structure for the organisation?
- Implications for funding opportunities
This video is for those wishing to set up a Community Interest Company (CIC), who need guidance on the application process and forms and the choices to be made in the clauses to be adopted in the Articles of Association (the organisations’ Constitution).