United Kingdom· 2006In forceEnables
Companies Act 2006 / Community Interest Company Regulations 2005
Companies Act 2006 (c.46); CIC Regulations SI 2005/1788
Freedom of association
Summary
The Companies Act 2006 provides the legal basis for Community Interest Companies (CICs), a hybrid structure for social enterprise combining limited liability with a community benefit test and asset lock. CICs are regulated by the CIC Regulator under the 2005 Regulations. TLTE itself is structured as a CIC.
Relevance to the diaspora
TLTE and similar Tamil diaspora advocacy organisations use the CIC structure to demonstrate community benefit orientation while maintaining operational flexibility beyond charity law constraints, including greater latitude for political campaigning.
Key provisions
- Companies Act 2006 s.26 — community interest test
- CIC Regs reg.3 — community interest test criteria
- CIC Regs reg.17 — asset lock provision
- CIC Regs reg.23 — annual CIC report requirements
Primary source
https://www.legislation.gov.uk/uksi/2005/1788/contentsRelated entries
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