CONVERSION OF AN INDUSTRIAL AND PROVIDENT SOCIETY IN NORTHERN IRELAND TO A COMMUNITY INTEREST COMPANY (CIC)
An organisation must choose whether it wishes to incorporate as a community interest company (CIC) or a charity, it cannot be both. A charity registered in Northern Ireland cannot (until the necessary legislation comes into force) convert to a CIC.
To be eligible to incorporate as a CIC, an Industrial and Provident Society must, in the opinion of the Regulator, satisfy the community interest test. The test is whether a reasonable person might consider that the company's activities are being (or its proposed activities will be) carried on for the benefit of the community. A company must continue to satisfy the test so long as it remains a CIC. Guidance materials are available on our website www.cicregulator.gov.uk.
To convert from an Industrial and Provident Society to a community interest company the society will need to:
- Pass a special resolution to convert from an Industrial and Provident Society to a community interest company and send the necessary forms to Registrar of Companies for Northern Ireland.
- Send to the Registrar of Companies for Northern Ireland:
- A letter explaining that the society wants to convert from an IPS to a community interest company.
- A copy of the memorandum and articles of association, for approval.
- A Form CIC 36 ( a community interest statement)
- A Form 21 (name and particulars of first director(s) and secretaries & Registered Office)
- A Form 23 (statutory declaration of compliance with requirements of Companies (Northern Ireland) Order 1986 ).
- Cheque for £50 payable to the Department of Enterprise, Trade and Investment
- The Registrar of Companies will:
- Pass copies of the incorporation documentation to the Regulator of Community Interest Companies to consider whether the company is eligible to form as a community interest company (CIC). If eligible and if the documents are acceptable to the Registrar of Companies the documents will be placed on the public record and a certificate of incorporation will be issued.
The address of the Registrar of Companies for Northern Ireland is:
Companies Registry
Department of Enterprise,
Trade and Investment
Waterfront Plaza
8 Laganbank Road
Belfast
BT1 3BS