Model Rules for an FCA Accepted FairShares Cooperatives
Rory (FSA)
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Dear FairShares,
Today we received notification from the FCA that our Model Rules for a FairShares Cooperative have been accepted by the regulator. We should receive official notification in the next few dates.
This will enable people who want to register a bone fide FairShares Cooperative in the UK to generate rules using the relevant FairShares Rules Generator and register them at a much lower cost that the £995 you have to pay if you register directly. Registrations still need to be approved by the FairShares Institute for Cooperative Social Entrepreneurship at Sheffield Business School (for which there will be a fee), but we are now bidding for funding to do some pilot registrations. The aim is that registration fees will be covered by university research funding in the first phase. A PDF copy of the accepted rules are attached.
Watch this space. Post your queries and questions here.
Rory (as User) Tue 4 Dec 2018 3:07PM
If they are not working together, it is probably a coop in name, not in nature. Yes - it stimulates a lot of thought because there are tangible benefits. If people want to go solo at the outset, we direct them back to the company law version
Alex Lawrie · Mon 3 Dec 2018 4:36PM
These are all fair points, and I do see where you're coming from. I guess I am used to registrations where the three people on the registration form may often have been picked on the basis of administrative necessity, and may only overlap partially with the actual team of founders; if you are registering a Fair Shares Co-op, perhaps you are giving a bit more thought to who those three are! A bit tricky when there are four or more people all playing a more or less equal role at the outset...