Community Interest Companies (CICs)
Community Interest Companies (CICs) are a type of limited company created by the Companies (Audit, Investigations and Community Enterprise) Act 2004 and the Community Interest Company Regulations 2005. The CIC aims to meet the needs of organisations which trade with a social purpose ("social enterprises") or carry on other activities which benefit the community.
The CIC Regulator is an independent public office holder appointed by the Secretary of State for Business, Innovation & Skills. The CIC Regulator’s duties are to consider applications to form a CIC, to ensure that a CIC complies with its legal obligations and to take enforcement action where serious infringements occur. The Regulator also has an important role in developing awareness of CICs and providing help and guidance to CICs, to those people considering setting up a CIC, and to business professionals advising CICs.
Further information on CICs
Please see the related links on this page for links to the CIC Regulator website which contains further information on CICs as well as recent documents that have been published including consultations and annual reports. There are also links to the consultations published by the Department, responses to these consultations and links to the subsequent regulations and explanatory memorandum.