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Re: FC United of Manchester - Community Benefit Society

By VoR10/2 09:50Sat Feb 10 09:50:50 2024In response to Re: FC United of Manchester - Community Benefit Society

Views: 488

Setting up as a CBS might suit the Supporters Co-op's attitude to risk.

In a CBS the Directors are appointed/elected by the Members.

Most CIC's are set up as Private Limited Companies, limited by Guarantee, which means the Supporters Co-op's representative(s)/directors on the Board will assume equal responsibility to the other representatives/directors on the Board, including responsibility for financial matters/performance.

I don't know how that would cascade down to the Supporters Co-op's membership, particularly if the CIC was to get into financial difficulties, or ultimately fail?

Edited by VoR at 09:51:40 on 10th February 2024
Edited by VoR at 09:52:10 on 10th February 2024
Edited by VoR at 09:52:36 on 10th February 2024