CIC Association

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I am new to CIC Association and wanted peoples views on directors level of authority. We have 5 directors presently and 3 of which initially founded the CIC, could you please let me know if there are certain powers that founders (Subscribers - corporate directors) have compared to new appointed directors? Any information regarding this would be gratefully received.

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This depends on the type of CIC you have. In a CIC by shares the founding directors may be shareholders and the new directors may not, if they are not offered shares.

HI Alexandra

That would be decided by what your articles of association say.For example one/some of the original directors may have a permanent seat on the board, the may have voting rights that are different, for example one director may have the equivalent of two votes.

There can also be differences if the new directors dont have shares in the CIC, or if not a share CIC they are not subscribers to the Limited by Guarantee CIC, therefore they would have a say if the decision making is decided b y subscriber/directors.

Generally though most CICs are set up where decisions are made by the majority, your own company docs should clarify things.

Hope that helps




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