First post to the CIC Assoc. I've set up a few CICs before, but have a quick question.
I'm aware we are required to include in our articles the provisions prescribed by The Community Interest Company Regulations 2005 (the regulator has these in red in her model articles).
My question is, do we have to have these exactly as in the regulations word-for-word, or can we paraphrase or change them slightly, as long as the meaning is the same?
The structure of the CIC I am setting up at the moment will have about a dozen members who will meet monthly, and elect 4 directors to run its day-to-day affairs. We want the members to approve applications for membership, but one of the prescribed provisions is:
(3) No person shall be admitted a member of the company unless he is approved by the
(4) Every person who wishes to become a member shall deliver to the company an application
for membership in such form (and containing such information) as the directors require and
executed by him.
You have two questions here:
Note incidentally that I always change the uses of 'he' and a number of other offences to equality in the Regulator's models! - one of a number of examples of paraphrasing that I think improves the models.
Thanks very much Geof.