Chapter six: The asset lock (PDF, 73 Kb)
6.1. Restrictions on the transfer of assets (the asset lock)
6.1.1. A transfer of assets must satisfy certain requirements
6.1.2. What is a ‘specified’ asset-locked body
6.1.3. Restrictions on the return assets to members
6.1.4. Assets can be used as collateral
6.1.5. Interpretation of transfer of assets
6.1.6. The community interest test and the asset lock
6.1.7. A CIC providing a service at less than the market rate
6.2. Dividends and the dividend cap review
6.2.1. CIC CLG without a share capital
6.2.2. CIC with a share capital, adopting Schedule 2
6.2.3. CIC with a share capital, adopting Schedule 3
6.2.4. Restrictions on the payment of dividends
6.3. The dividend cap
6.3.1. The three elements to the dividend cap
6.3.2. Amount of first caps
6.3.3. Maximum dividend explained
6.3.4. Maximum aggregate dividend explained
6.3.5. Carrying forward unused dividend capacity explained
6.3.6. Further examples
6.4. Performance related interest cap
6.4.1. Amount of first cap
6.5. Redemption and repurchase of shares and reduction of capital
6.5.1. Redemption and purchase of shares
6.5.2. Reduction of capital |
