I was wondering if anybody would be able to give me some advice please. I am currently in the process of compiling the paper work needed to register as a CIC. At present I was hoping to register as just myself as director. I have a large management board involving a number of people to oversee and advise. At a later date I would then appoint other directors as I do understand the importance of having more directors than just myself.
I am just stuck at the moment with the Articles of Association as the template that I have is for more than 1 director. If anybody has a template or a copy of articles for 1 director, I would very much appreciate any help or advice.
CLICK HERE for an example completed form from the Regulators website.
As for the Regulator picking up on things that dont meet the test, i cant speak on their behalf but would guess not. Dealing in arms, being politically active or an actual contravention of the regulations aside I doubt you have much to worry about, the annual statement is a simple way to communicate to the Regulator how you have got on trying to achieve your objectives.
' I have tried to raise funds via 3 grant applications, none have been successful and we havent been able to create any impact this year for our community of interest' would be ok.
I use this example as it is usually only a concern until you have done the first one, many CICs take time to get rolling and can be worried that the Regulator takes a view as to how you have performed, which isnt the case.
As this is a thread discussing single director CICs and not the CIC36 i'll leave it at that but if you want to ask more please start a new thread or add to the existing threads on the CIC36.
@ Heidi Fisher Are you still able to give guidance in cic set up?
This might help people, down loaded from https://www.gov.uk/government/publications/community-interest-compa...
Attached in word for a Articles of Association for company limited by shares
Hope it might help
The CIC Regulators models are set up for 'more than one' Director, here's a link to a limited by Guarantee single director http://cicassoc.ning.com/forum/topics/can-i-set-up-a-c-i-c-as-a-sol...