The SABSA Institute C.I.C. is registered in England & Wales, company number 08439587.
Community Interest Company
The SABSA Institute is incorporated as a Community Interest Company (C.I.C.), limited by guarantee under the laws and regulations of England as set out in the following Acts of Parliament:
- Companies Act 2006;
- The Companies (Audit, Investigations and Community Enterprise) Act 2004
- The Community Interest Companies Regulations 2005 (SI 2005/1788)
- The Community Interest Company (Amendment) Regulations 2009 (SI 2009/1942).
As a C.I.C. it is owned by the collective membership of the international SABSA Community for the benefit of the Community.
The SABSA Institute exists to own and govern the body of knowledge and catalogue of intellectual property rights known as ‘SABSA®’ and to serve the interests of the SABSA Community.
The key characteristics of a C.I.C. are that:
- The Articles of Association dictate that the company is ‘Not for Profit’. Although it may make a trading profit, this profit may not be used for private gain and there are no shareholders to whom dividends would be payable. All trading profits must be reinvested in developing the assets of the company, in this case the SABSA IP.
- There is an ‘Asset Lock’ clause in the Articles of Association that prevents any assets of the company from being exported other than at true market value. The assets of The SABSA Institute are mainly its intellectual property rights (IPR) and the SABSA brand and marque.
- The community of registered members are the owners of the company collectively. Each member guarantees a limited liability of one pound sterling, should the company need to be wound up with debts unpaid.
The official Articles of Association in PDF can be downloaded from here.
These Articles of Association set out the rules under which the company may conduct its business.