# Government publishes intentions on Community Interest Company

- Link: https://fundraising.co.uk/2003/11/01/government-publishes-intentions-community-interest-company/
- Published: 2003-11-01T00:00:00+00:00
- Author: Howard Lake

The Department of Trade and Industry has published details of how it proposes to
introduce a new type of company structure for not-for-profit businesses and social
enterprises.
The government has announced that it intends to proceed with legislation
to establish the Community Interest Company “as soon as Parliamentary time allows”.

 

 

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The concept of the Community Interest Company (CIC) was originally outlined in the
Cabinet Office Strategy Unit report “Private Action, Public Benefit”, published 
in September 2002. This new type of company could prove a useful structure for organisations
looking to work for community benefit “within the relative freedom of the non-charitable
company form, but with a

 

clear assurance of not-for-profit distribution.”

 

status.

 

 

In its public consultation phase the proposal received 134 formal responses from
bodies such as ACEVO, NCVO, Association of Charitable Foundations, Community Matters,
and the New Economics Foundation.

 

 

The government’s proposals to proceed have been published together with details 
of some of the feedback received. For example, the government has noted the general

 

support for its proposal to exclude

 

political parties from adopting Community Interest Company status, or establishing
such subsidiaries. It therefore intends to incorporate these exclusions in legislation.

 

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