Suitable for an organisation which, although owned and controlled democratically by a variety of stakeholders, operates for public benefit.
Model Key Features
- Governing Act: Co-operative and Community Benefit Societies Act 2014.
- Suitable for societies that intend to operate for public benefit and be recognised as a charity for tax purposes with HMRC.
- Includes a Common Ownership Dissolution provision.
- Includes optional provisions to enable a society to issue withdrawable share capital up to the statutory limit, or what is more commonly known as “a community share offer.” Alongside this is an optional provision to pay interest on this share capital within the limits of the FCA’s guidance which mirrors that published by the Charity Commission.
Download the model here.