GVS Monitors Proposed Community Interest Company (CIC) Regulation Changes

Glamorgan Voluntary Services (GVS) is actively tracking the UK government's plan to integrate the Regulator for Community Interest Companies (CICs) into Companies House. This move, part of a broader effort to streamline regulations, prompts GVS to emphasise the vital role of CICs in the Vale of Glamorgan’s communities. 

While acknowledging the potential for reduced administrative burdens, GVS stresses the importance of safeguarding the "community interest" aspect of CICs. "Our priority is ensuring these changes don't weaken the core purpose of CICs," states Clive Curtis, Governance Lead & Operational Manager at GVS. "The integrity of the ‘asset lock’ and community interest statement must be maintained." 

GVS commits to: 

• Providing timely updates to local organisations

• Advocating for the third sector’s needs during the transition

• Offering support and guidance to CICs

GVS recognises the government's aim to cut red tape, but insists that the social purpose of CICs remains paramount. Local organisations are urged to stay informed through Companies House and GVS resources.

"We will continue to support our members, ensuring they navigate any regulatory shifts effectively," adds Clive Curtis.

Information Sheet: Proposed Changes to Community Interest Company (CIC) Regulation