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OIA CIC

What is a CIC?

 In early 2013 the Outdoor Industries Association successfully registered to become a community interest company (CIC) with Companies House.

A Community Interest Company (CIC) is a limited company, with special additional features, created for the use of people who want to conduct a business or other activity for community benefit, and not purely for private advantage. It is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.

The primary core features of any company holding CIC status are twofold;
- Assets owned by the company are held in an asset lock which secures those assets to applications for the good use of community.
- Limitations applied to dividend and interest payments made to shareholders and financiers ensure a profit can be made, but the primary focus remains on achieving benefit for the community.

For more information about CIC's please visit the CIC Regulator here.