Community Interest Company

The proposed legal structure for Ymlaen Moelyci, is as a Company Limited by Guarantee (i.e. without share capital, but with a limited number of voting members:) registered as a Community Interest Company (CIC). This ensures that the organisation has to establish a Community Interest Statement and report against it annually to the Regulator of Community Interest Companies at Companies House. In addition, the benefits and added value generated by a CIC are legally protected by an Asset Lock in a similar way to those of a charity.

The Ymlaen Moelyci proposal is that the CIC will have a board of between five and nine directors and will strive to achieve a balance of gender, language and private business/third sector experience. The board will take on the role of strategic oversight and governance of the organisation.

The main reason for preferring this legal form is the urgent need for it to be set up very quickly, rather than other structures which take much longer to register. The CIC will have a management committee made up of voting members of the CIC. Each individual business owner or organisation, and each activity group based and operating on the farm will be invited to nominate a representative as a member of the management committee. Each member will represent the interests of their business, organisation or activity group which in turn will have their own constituent members.

It is also proposed to have a separate organisation to undertake trading activities such as facilities hire and events on the residual parts of the farm and buildings not leased to third parties. One of the legal forms suitable for this part of the operation is a Chartable Incorporated Organisation or CIO. This body may also represent the interests of those general supporters and community users of the farm who do not belong to another member organisation or business. More consultation and work on this strand of the future operating structure is required.