A Community Interest Company, CIC, is a special type of limited company which exists to benefit the community rather than private shareholders.

Under section 53 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 a CIC is only allowed to cease being a CIC by dissolution, or by converting to a charity. This means that once a company has become a CIC it can’t convert to an ordinary limited company.

There are a number of different routes to dissolution, each with its own rules and procedures.

Dissolution is fully explained in the Companies House booklet ‘Strike-off, Dissolution and Restoration’.

Apply to voluntarily dissolve a CIC

Complete and send Form DS01 to the Registrar of Companies, with a cheque for £10 made payable to Companies House.

When the form is accepted, a notice will be placed in the London Gazette – or the Edinburgh and Belfast editions as appropriate – giving at least 2 months notice of the intent to remove the company.

If you wish to transfer assets for less than full consideration to an asset locked body that is not already specified in the articles of association, you will need the consent of the Regulator and must complete form CIC53. The information supplied will be used to help the Regulator decide whether or not to object to the striking off of the CIC.

Please note:

• a ‘transfer’ includes every description of disposition, payment, release or distribution, and the creation or extinction of an estate or interest in, or right over, any property.

More detailed information and help can be found here

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