The general idea behind the Community Interest Companies (CIC) is to have available a custom made legal vehicle for community and social enterprises where the profits are to be made available for public work. However, a more focused Community Interest test is in place which has been said to make the implementation of such Companies impossible. Further, it has been said that the Regulator of CIC does not seem to have proper guidance as what constitutes a Community Interest Company. Do you agree with the above statement? Discuss. Grade B, University of London LLB, 2nd year, Company Law Table of Contents The View Behind Community Interest Companies 2 Types of CIC 2-3 Implementation of Community Interest Companies 3-4 Objectives of a CIC 4 Community Interest Test and Guidance As To What Constitutes a CIC 4-6 The role of the Regulator 6-7 The duties of the Regulator 7 The powers of the Regulator 7-9 International Comparisons 9 Proposals For A More Focused Community Interest Test 10 Conclusion 10-11