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COMMUNITY INTEREST COMPANIES
(CICs)
Introduction
The Community Interest
Company (CIC) will be a new type of company, designed for social enterprises
who want to use their profits and assets for the public good. CICs will
be easy to set up, with all the flexibility and certainty of the company
form, but with some special features to ensure they are working for
the benefit of the community. CICs will report to an independent regulator
on how they are delivering for the community and how they are involving
their stakeholders in their activities.
CICs will require
legislation, covering a regulator, a community interest test, and
community interest reports. Subject to Parliament, we expect the
earliest date for registering as a CIC will be early 2005.
Publication of draft
regulations: 16 February 2004
Draft regulations and
explanatory notes have been published to
help inform debate in Parliament on Part 2 of the Companies (Audit,
Investigations and Community Enterprise) Bill, as introduced in the
House of Lords on 3 December 2003.
Dummy
set of draft regulations: "The Community Interest Company
Regulations 2004"
 (363.1kb)
Explanatory
notes on dummy set of draft regulations: "The Community Interest
Company Regulations 2004"
(248.9kb)
Publication of Bill: 4
December 2003
A Bill including proposals
to create the Community Interest Company was published on 4 December.
Links to
the Companies (Audit, Investigations and Community Enterprise) Bill
and accompanying explanatory notes are available on the Bill
Homepage. Measures on CICs are set out in Part 2 of the
Bill. The Bill homepage will be
updated with developments as it progresses though Parliament.
Results of Consultation:
October 2003
A report on the public
consultation published on 22 October 2003, summarises consultation
responses and sets out the government's intentions for Community
Interest Companies.
Enterprise
for Communities: Proposals for a Community Interest Company - Report on
the public consultation and the government's intentions
(336Kb) URN
03/1344
A Welsh translation is
available to download
in pdf format.
Public Consultation:
March - June 2003
On 26 March 2003 the
Government published consultation proposals on the introduction of the
Community Interest Company. The consultation ended on 18 June
2003.
Enterprise
for Communities: Proposals for a Community Interest Company
(318Kb) URN 02/1460
A Welsh translation is available to download
in pdf format.
Copies of the consultation
paper and report on consultation can be obtained by
calling the DTI Publications order line on 0870 1502 500 and quoting the
URN.
Cabinet Office Strategy
Unit Report - September 2002
Recommendations for
Community Interest Companies and the public consultation where
originally outlined in the Strategy Unit report on the voluntary sector
"Private
Action, Public Benefit"
To find out more information on
the Government's Social Enterprise Strategy click
here.
We can be contacted:
Patrick Barry
Community Interest Companies Team
DTI
1 Victoria Street
London SW1H 0ET
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