You shouldn't use the Regulator's Model 1, which as you say is for Guarantee CICs that have the same members and directors; use Model 2 (the descriptions 'small' and 'large' are misleading here - there's…"
"Thanks Geof, that's really helpful information.
To clarify, then, would I now be correct in thinking that if all five members sign the memorandum, and then take a vote/decision upon the appointment of who will be appointed two directors from…"
All Guarantee CICs are private, and yes £1 is the usual amount guaranteed.
The 'subscribers' sign the Memorandum - these are the first MEMBERS, and are distinct from the first DIRECTORS. Both groups sign the…"
Hi allI wonder if anyone out there could help clarify some queries if you can please... we are trying to start up a small CIC in Bristol from scratch, the CIC will provide services for vulnerable women in our local community.I asked the CIC regulator who should sign the memorandum, and wasshe said the first directors? However, I later read, can't recall where unfortunately, that it is all involved in founding and setting up the company? Does this mean those who subscribe would all be founding…See More
Guidance on how to set up a CIC especially where communities need to work together before they actually create the CIC e.g. collect funds commission work from advisors ahead of formation as some market testing or preparatory workSee More