In 2017 we evolved from the original Broads Angling Strategy Group into the Broads Angling Services Group (CIC) Ltd. This decision was taken for two important reasons,

  1. External funding is more accessible for legally incorporated organisations
  2. As the group has evolved to delivering services the LTD status offers legal protection for members, officers and participants.

A Community Interest Company (or CIC) is a special form of Limited company that exists purely for the benefit of a community rather than the benefit of shareholders. The articles or rules under which BASG (CIC) Ltd can legally operate can be found below, but in summary….

  1.  A CIC operates like a normal limited company, with a Board of Directors that run the company
  2. In place of shareholders, we have members, the members can appoint and remove Directors
  3. Each member has a “vote”
  4. If the company fails, each member is limited to £1 liability
  5. All assets are “locked” and cannot benefit any individual,
  6. There are no Dividends or profits paid to any individuals
  7. Application for membership is available to all, approval is subject to voting

Please click on the page to download the full document.