Page 6 - handbook_EN
P. 6

SETTING UP A LOT








               Your LoT can have one of many different organisational structures

               or  many  different  operating  procedures.  This  section  is  split  up
               into sections to explain this.



                                         Organisational Sctructure



               Your LoT can take take one of many organisational structures. In

               the  UK  you  could  register  as  a  charity,  provided  you  meet  the
               requirements.  Your  organisation  would  need  to  conduct  all  its
               operations  for  the  public  benefit,  and  it  must  be  entirely

               charitable. You would also need to have a constitution and a board
               of trustees. You would need to research this in your own country

               to  find  out  what  is  necessary.  Sometimes  there  are  legal
               requirements on a charity, so this is important to understand fully.

               You  can  find  further  information  at  the  Charity  Commission  in
               England  and  Wales  and  in  Scotland,  see  Office  of  the  Scottish

               Charity Regulator.


               You may want to become a Community Interest Corporation. This

               type  of  formation  is  like  a  limited  company,  but  with  its  profits
               benefiting the community rather than shareholders. A CIC is not a

               charity. The definition of a charity is more narrow than a not-for-
               profit. A CIC looks more like a business than a charity. You can limit
               you  CIC  by  shares  or  by  guarantee.  By  guarantee  is  the  most

               common  as  it  can  be  converted  to  a  Charitable  Incorporated
               Organisation  (CIO).  Again,  it  is  your  responsibility  to  ensure  you

               understand the terms and implications of this type of orgaizational
               structure.
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