Part 2Community interest companies
Change of status
F155A.Ceasing to be a community interest company and becoming a charity : consequences of Regulator’s decision
(1)
If the Regulator gives notice of a decision that the company is eligible to cease being a community interest company, the registrar of companies must—
(a)
proceed in accordance with section 80 of the Companies Act 2006 (change of name: registration and issue of new certificate of incorporation), and
(b)
if the registrar enters the new name of the company on the register, retain and record the documents mentioned in section 54C(4).
(2)
The new certificate of incorporation must state—
(a)
that it is issued on the company’s ceasing to be a community interest company, and
(b)
the date on which it is issued.
(3)
On the issue of the certificate—
(a)
the changes in the company’s name and articles take effect, and
(b)
the company ceases to be a community interest company.
(4)
If the Regulator decides that the company is not eligible to cease being a community interest company, the company may appeal to the Appeal Officer against the decision.