With effect from 1 October 2014, the Community Interest Company Regulations 2005 will apply as amended by the Community Interest Company (Amendment) Regulations 2014.
The amendments are:
- the removal of the share dividend cap; and
- the removal of the obligation to report the amount of dividends paid and any unused dividend capacity carried over in the 4 years preceding the report.
The amendments will apply to any dividend declared, or proposed to be declared on or after 1 October 2014.