"The other option is that you can have multiple directors but a single authorised director for the bank. We have 3 directors on our CIC but I set up the bank account and I am the only director with access to the bank. You would need the other…"
" The standard clause is something like:
"Single Director. If the Company should have one only Director, the general rules regarding decision-making do not apply, and the Director may take decisions without regard to any of the provisions…"
"Thank you so much, will make the changes now and "have a meeting with myself" to pass a resolution to change the model articles to reflect and accommodate single director status
It has been so great to find this amazing group and…"
"If you have a look at the model articles, the following can be inserted into article 12:
"In the event of the Company having only one Director, a majority decision is made when that single Director makes a decision."
This allows decisions…"
Set up a CiC this year to help local BAME communities with future intent of adding directors. Have adopted the model memorandum from Companies House. The Bank is unable to open bank account as the articles do not accommodate single director.Anyone knows which articles elements I can change to what accommodate single director with view to increase for future? Or a template I can use to have single director and also cater for future directors, which will become important if funding is pursued.…See More
Guidance on how to set up a CIC especially where communities need to work together before they actually create the CIC e.g. collect funds commission work from advisors ahead of formation as some market testing or preparatory workSee More