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James Macfarlane
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Sue Westwood replied to James Macfarlane's discussion Re: Sue Westwood in the group Setting up a CIC
"Thanks James."
Monday
James Macfarlane replied to James Macfarlane's discussion Re: Sue Westwood in the group Setting up a CIC
"Yes, the PSC register was introduced to increase transparency and is separate to the registers of members and directors. I'm not an expert on it but think you only need to register people with 25% or more of voting rights, if you have 5 or more…"
Monday
Sue Westwood replied to James Macfarlane's discussion Re: Sue Westwood in the group Setting up a CIC
"Thanks again James, that makes sense. Also does this still apply if I was to name and register myself as a PSC. I am so grateful to your guidance. Sue."
Monday
James Macfarlane added a discussion to the group Setting up a CIC
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Re: Sue Westwood

In reply to your question on the comment wall:Subscribers are your initial members. Directors and the company secretary can be (but do not have to be) members. Employees are a different category, so don't think about them for now. Also, the asset lock is a different thing to limited liability. It is limited liability that protects your members from having to pay wind up costs. Generally you would go with £1 as an amount guaranteed.See More
Monday
James Macfarlane replied to Sue Westwood's discussion Related Directors (family connection) Is this a big issue? in the group Setting up a CIC
"The BLF generally wants at least three unrelated people on the board. I don't think this means all directors have to be unrelated, so in your case you would need an additional director to make a total of four."
Sunday
Hilary Sudbury replied to James Macfarlane's discussion Hilary Sudbury - is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee? in the group Setting up a CIC
"Thanks, I will check with the regulator their position on this first. "
Nov 28, 2017
James Macfarlane replied to Ryan Harman's discussion Founding CIC as CASC compliant in the group Setting up a CIC
Nov 28, 2017
James Macfarlane replied to James Macfarlane's discussion Hilary Sudbury - is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee? in the group Setting up a CIC
"I think that's correct, and would suggest contacting the regulator to check if their permission would be forthcoming."
Nov 28, 2017
Hilary Sudbury replied to James Macfarlane's discussion Hilary Sudbury - is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee? in the group Setting up a CIC
"Would they need the permission of the CIC regulator to transfer their activities and assets to the new CIC ltd by guarantee?  Also I presume that the Directors need to put a special resolution to the shareholders to agree to the…"
Nov 28, 2017
James Macfarlane replied to Peter Hart's discussion Can you convert to a CIC if you were a partnership? in the group Setting up a CIC
"You can generally assign the partnership's debt to the CIC but you would need permission from your suppliers, lenders, etc, and if the CIC hasn't been trading an has no track record they are unlikely to provide this."
Nov 15, 2017
James Macfarlane replied to Peter Hart's discussion Can you convert to a CIC if you were a partnership? in the group Setting up a CIC
"Hi Peter The word "convert" is misleading. What happens is you would incorporate a CIC, and then the CIC would buy (or be gifted) the assets of the partnership and take over running its business. Yes, a CIC is a type of limited…"
Nov 14, 2017
James Macfarlane replied to Nigel Hancock's discussion CIC and the tax situation in the group Setting up a CIC
"Yes, that's correct. Only claim as much of your grant as you are in a position to spend."
Nov 13, 2017
James Macfarlane replied to Suzanne Mark's discussion Registered Address for CIC in the group Setting up a CIC
"Hi Suzanne, if you have an accountant or a solicitor, they will usually let you use their office address. Alternatively, if there is a social enterprise support organisation in your area, they might let you use theirs."
Nov 13, 2017
James Macfarlane added a discussion to the group Setting up a CIC
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Hilary Sudbury - is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee?

In reply to comment by Hilary Sudbury "is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee?"A company limited by shares cannot be converted to one limited by guarantee (or vice versa). If you want to do this, the process is to register a new company and transfer the assets of the old company to the new one. As each company is required to have a different name, you will have to change the existing company's name first, so that the new company can be registered in the…See More
Oct 30, 2017
James Macfarlane replied to Emma's discussion Who is a subscriber. HELP in the group Setting up a CIC
"Hi Emma A CIC is a type of company, which (in the simplest sense) is a group of people coming together with a common purpose. Those people are the members, and they control how what the company does and how it is run. You can have just one member,…"
Oct 16, 2017
James Macfarlane replied to Emma's discussion Who is a subscriber. HELP in the group Setting up a CIC
"Subscribers are the people who sign the memorandum of association and agree to become your CIC's first members."
Oct 16, 2017

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