UK: the Community Interest Company (Amendment) Regulations 2009 - draft published

A draft of the Community Interest Company (Amendment) Regulations 2009 has been published on the OPSI website: see here (html) and here (pdf). The Regulations are scheduled to come into force on 1 October 2009. In the accompanying explanatory memorandum the changes introduced by the Regulations are explained:

The principal changes include provisions to enable a CIC to convert to the asset locked form of a community benefit society (a form of Industrial & Provident Society) or a Scottish charity to convert to a CIC; to remove requirements relating to alternate Directors and casting vote; and to add a reasonable person’s test to the section of the community aspect of the community interest test".