[57north-discuss] Becoming a CIC, any thoughts?

[Robert McWilliam]

On Mon, 8 Jul 2019, at 09:04, Iain R. Learmonth wrote:
> Hi,
> Last time I asked, it was £5 with each of the *founding* directors being
> equally and severally liable. No one ever updated the list of guarantors
> when the list of directors changed.
> 
> I haven't actually checked myself and I don't remember who told me this
> though, so this could be inaccurate.

According to our articles every member is liable for £1. See article 8.

As part of forming the company there was a "Statement of Guarantee" filed with companies house that listed the 5 original directors as liable for £1 each.  Nothing has ever been filed to update that (though maybe it didn't need to be as you could argue that as soon as the company was actually formed and had a members registry that was the list of guarantors, but maybe that would be supposed to be published somewhere if that were the case: IANAL).

Doesn't look like I can link directly to the incorporation document, but it is the first one here if anyone wants to have a look:
https://beta.companieshouse.gov.uk/company/SC470230/filing-history?page=2

Robert 

________________________________________________________
Robert McWilliam     rmcw at allmail.net    argh.technology

Long periods of drought are always followed by rain.