Wessex Community Assets specialises in helping Community Land Trusts and other community groups to decide on their legal form, and in particular setting up a Community Benefit Society.
We are the sponsoring body for the Wessex Community Assets Model 2018 Rules. These model rules are registered with the Financial Conduct Authority – making it quicker, easier and cheaper to register your society.
Developed in 2007 these rules have been adopted and used by a range of Societies as the governing document for Community Benefit Societies. Societies using the Wessex rules include community-owned housing, food, retail, managed workspace, and woodland enterprises.
The Community Assets Model 2018 Rules include recent updates to democratic processes to enable good governance of the society, based on feedback from our users. The Rules are based on relevant legislation, recognised co-operative principles and uniquely meet the criteria to demonstrate the Society is a Community Land Trust – owning and manage assets for community benefit. The Rules have a statutory asset lock and can issue community shares.
The Rules are suitable for:
- new Society registrations,
- Society’s wishing to update their Rules, and
- organisations wanting to convert legal status from a Company
to a Society.
The Model Rules Registration or Updating Service provided by Wessex Community Assets costs £460 (with no VAT) + the relevant FCA Fee (usually £40). The price for conversions is available on request.
For an initial free consultation please email Diana to discuss your requirements.