CIC Association

Serving Community Enterprise

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.

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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.


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 members you won't need to register.

Thanks James.



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