formation of community interest

Formation and registration

The formation and registration is similar to that of any limited company. New organisations can register by filing the Form IN01 and memorandum and articles of association together with a form CIC36 signed by all their directors, explaining their community credentials to the Registrar of Companies for England and Wales, or the Registrar for Scotland with a fee of £35.
Existing companies can convert to a CIC by passing resolutions which make changes to their name and to their memorandum and articles of association and by delivering to the Registrar of Companies copies of these documents, together with a fee for £25, and a form CIC37 (which is similar to a CIC36, but asks for confirmation that the company is not a charity, or that permission has been obtained from the Charity Commission to convert from a charity to a CIC). The Registrar will conduct the normal checks for registration and pass the papers to the Regulator of Community Interest Companies, to determine whether the company satisfies the community interest test.
CICs cannot:
be politically motivated (see regulation 3 of the Community Interest Company Regulations 2005 (“CIC Regs”))
be set up to serve an unduly restrictive group (see regulations 4 & 5 of the CIC Regs)
be a charity
carry out unlawful activities
The first ever UK Community Interest Company was TalentStar, founded by Adam Chetter.[