Hi, can anyone give me advice or guidance on closing a cic. Sadly, the cic i set up years ago just isn't viable anymore. I left a couple of years ago and my friend took over, since then it has gone downhill massively and has made a loss in this last year. The current directors have decided now to close it - they wanted me to take it back over but I'm not willing to do that having seen the accounts and massive drop in bookings - i don't know what reputation it has anymore and don't want to take…See More
All changes need to be approved by special resolution, you can't just tidy up the wording without going through the formalities. In your case I'd recommend doing all the changes at once using the method I mentioned above…"
Thanks for your reply. Do I just do an amendment for now to tidy up the bits you have highlighted? And then pass a special resolution to make the changes (which we are not doing right at this moment anyway so no rush).
Article 15.2 sets the quorum for directors' meetings at 2 but article 12 talks about the possibility of the company having a single director. I suggest you tidy up this inconsistency.
Otherwise I don't see any restrictions on…"
Would anyone be happy to look at the current articles of association for me and see if there’s anything particularl in there I need to be aware of? Since I started the company years ago, I’ve developed fibromyalgia, have…"
"Hi, hope you don’t mind me jumping on and asking this but I have a CIC that was set up with 3 directors, I can’t see anywhere in the articles of association that it has to always have 3, but pretty sure it’s a min of 2 as…"
"An alternative is to pass a special resolution with the following text and the new articles attached to it.
The Articles of Association shall be altered so as to take the form of the Articles of Association attached to this resolution are in…"
Yes, a CIC can change its articles of association. This is done by special resolution, so at least 75% of members must agree to it. The basic procedure for doing this is at the link below, but you'll need to check your current…"
Hi, does anyone know if we can change from 3 directors to 1? I have two people no longer wanting to stay as directors - which only leaves 1. Do we have to find replacements or can the CIC stay with 1?Also, in the articles of association, we stated that we would have volunteers and paid staff, and that our service was for adults.We now want to expan to support children as well as people with a wider range of needs, it’s unlikely that we will continue to have volunteers but instead have only paid…See More
Good day, How is everything with you, I picked interest on you after going through your short profile and deemed it necessary to write you immediately. I have something very important to disclose to you, but I found it difficult to express myself here, since it's a public site. Could you please get back to me on my private email(firstname.lastname@example.org) for the full details? Have a nice day and God bless you, jean