LFGSS and Microcosm shutting down 16th March 2025 (the day before the Online Safety Act is enforced)

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Polka_Dot

in my experience as a director in a couple of CICs personal liability to the directors can be £1.00
i’ve not read all through the act yet, but from what i’ve understood, if we just make lfgss a CIC, that would take away the risk from Velocio, and the site could basically just carry on the same.
just a few people to volunteer as directors is plenty, and the paperwork of setting it up with companies house etc.

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Velocio in reply to @Polka_Dot

i’ve not read all through the act yet

please read the Act first and the Ofcom announcements, etc, a lot are linked in the first post.

there is additional liability and consequences (including criminal) for the officers of a company, which would apply to a Community Interest Company too.

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