As a community interest company (CIC) leader, it’s essential to understand the concept of the asset-locked body. An asset-locked body is an entity that has at least two shareholders—one with and another without voting rights. The CLA’s assets are “locked” in… Read More ›
Asset Locked Bodies
Asset Locked – The CIC Mystery
When forming a CIC, there is a guideline that a CIC cannot transfer its assets except under special circumstances. It’s called an asset lock. Asset lock is one of the key features of a CIC. It’s this concept that governs… Read More ›