The Community Interest Company legislation is an evolution that will change the way people do business in the UK
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Hello all - can anyone advise if a non-exec (and unpaid) board member can apply for an employed post within their CIC?
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Charlie Cattell There is nothing generally to prevent a CIC board member, whether paid or unpaid, from applying for a job within the company. I can only think of two situations where this could be an issue.
1) If for some reason the CIC's Articles of Association should prohibit this, which is highly unlikely.
2) If the CIC has received a grant with a funding agreement attached that stipulates rules about board members being on the payroll.
Hello everyone,
Could I please ask if you came across difficulties with opening a bank account for a CIC, when one of the directors (we're 2 directors) has poor credit history?
We're just about to incorporate and this became a big block...
Many thanks
Rafaela
Could I please ask if you came across difficulties with opening a bank account for a CIC, when one of the directors (we're 2 directors) has poor credit history?
We're just about to incorporate and this became a big block...
Many thanks
Rafaela
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Rafaela Nunes Thanks very much John!
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John Mulkerrin If you are having issues you should look at the Monzo, Starling, Revolut type online accounts. In essence they are credit accounts rather than debit accounts but you will be able to get an account for online banking, payments, direct debits etc but you wont get overdrafts etc.
A huge generalisation but they might be options, Co-op offer free banking via their Community Direct Plus Account, again these are not recommendations just products to research.
Best of luck
John
