Industrial & Provident Society for the Benefit community other than Like Co-op type, but new Yes, members liability limited Yes but must primarily benefit Yes, lock only survives Yes, if it meets the criteria benefit of the community just own members and have legislation provides option of to amount unpaid on shares. non-members - 'asset lock' dissolution if new statutory for being a charity. special reason not to be more secure form of 'asset applies. form of asset lock adopted. (Community Benefit Society or companies. lock'. Bencom) Scottish Charitable Incorporated corporate structure Similar to company but with Yes, members either have no No, members are not Yes. Yes. It must be a charity, Organisation specifically designed for charities. different terminology, eg liability or limited liability. permitted to benefit and and must meet the 'charity trustee' instead of charity trustees are only able criteria for being a 'director'. to benefit if constitution, charity. court or Charity Commission give permission.
Industrial & Provident Society for the benefit of the community (Community Benefit Society or Bencom) Benefit community other than just own members and have special reason not to be companies. Like Co-op type, but new legislation provides option of more secure form of 'asset lock'. Yes, members liability limited to amount unpaid on shares. Yes but must primarily benefit non-members - 'asset lock' applies. Yes, lock only survives dissolution if new statutory form of asset lock adopted. Yes, if it meets the criteria for being a charity. Scottish Charitable Incorporated Organisation corporate structure specifically designed for charities. Similar to company but with different terminology, eg 'charity trustee' instead of 'director'. Yes, members either have no liability or limited liability. No, members are not permitted to benefit and charity trustees are only able to benefit if constitution, court or Charity Commission give permission. Yes. Yes. It must be a charity, and must meet the criteria for being a charity.
Organisational-Types-Table.docx