Articles of association for a CIC that is limited by shares
This page contains the articles of association you will need if you are setting up a Community Interest Company (CIC) that is limited by shares.
Choose the articles of association relevant to your company, depending on whether you are a small membership company or a large membership company.
Small membership - articles of association
Use the small membership articles if all of the following apply to your CIC:
- it is limited by shares
- all the directors are also members of the CIC
- all the members are also directors of the CIC
Use the articles called ‘schedule 2 with a small membership’ if any dividend payments made from company profits will only be paid to an asset locked body.
Use the articles called ‘schedule 3 with a small membership’ if any dividend payments made from company profits will be paid to both an asset locked body and the owners of the CIC.
Large membership - articles of association
Use the large membership articles if all of the following apply to your CIC:
- it is limited by shares
- the CIC will have more members than it has directors
Use the articles called ‘schedule 2 with a large membership’ if any dividend payments made from company profits will only be paid to an asset locked body.
Use the articles called ‘schedule 3 with a large membership’ if any dividend payments made from company profits will be paid to both an asset locked body and the owners of the CIC.