Hi again guys
Another query for all you in the know, please.
As there are only five of us, we are to be incorporating as a small private CIC ltd by guarantee, we believe we have to adopt the Model 1 Articles of Association, is this correct? On this model it states that "all members will be directors". If we have one person in our small group who cannot be a director, will companies house allow them to still be a first member, and to sign the Memorandum of Association? Or will they have to join as a member after the incorporation has taken place?
Many thanks for reading.
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 nothing to stop a 'Model 2' CIC being smaller than a 'Model 1') - or use one of my models, eg.
I can't think of anything that would prevent your 5th person being a Member.
Contact me via my website (http://www.geofcox.info/contact) if you want to arrange a telephone conversation (no charge).
Fantastic, Thank you Geof! I really appreciate that.