36Formation of company as a community interest company

1

If a company is to be formed as a community interest company, the documents delivered to the registrar of companies under section 9 of the Companies Act 2006 (registration documents) must be accompanied by the prescribed formation documents.

2

The “prescribed formation documents” means such declarations or statements as are required by regulations to accompany the application, in such form as may be approved in accordance with the regulations.

3

On receiving the documents delivered under that section and the prescribed formation documents, the registrar must (instead of registering the documents)—

a

forward a copy of each of the documents to the Regulator, and

b

retain the documents pending the Regulator's decision.

36AFormation as community interest company: decision on eligibility

1

The Regulator must decide whether the company is eligible to be formed as a community interest company.

2

A company is eligible to be formed as a community interest company if—

a

its articles comply with the requirements imposed by and by virtue of section 32,

b

its proposed name complies with section 33, and

c

the Regulator, having regard to the application and accompanying documents and any other relevant considerations, considers that the company—

i

will satisfy the community interest test, and

ii

is not an excluded company.

3

The Regulator must give notice of the decision to the registrar of companies (but the registrar is not required to record it).

36BFormation as community interest company: implementation of decision on eligibility

1

If the Regulator decides that the company is eligible to be formed as a community interest company, the registrar of companies must—

a

proceed in accordance with sections 14 and 15 of the Companies Act 2006 (registration and issue of certificate of incorporation), and

b

if the company is entered on the register, retain and record the prescribed formation documents.

2

The certificate of incorporation must state that the company is a community interest company and is conclusive evidence that the company is a community interest company.

3

If the Regulator decides that the company is not eligible to be formed as a community interest company, any subscriber to the memorandum of association may appeal to the Appeal Officer against the decision.