An overview on the nature of community interest companies

Abstract

The following article discusses the nature of community interest company – a type of company in English corporate law. The specificity of the examined question determines the dual purpose of this study: to reveal the nature of such company in English law, as well as to compare it with the existing forms of non-profit legal entities in the civil legislation of the Republic of Kazakhstan. The peculiarity of community interest companies lies within the main purpose of their activities – to benefit a particular community, i.e. a group of people that have a particular feature in common. The question on prospects of implementation of community interest company in the civil legislation of the Republic of Kazakhstan arising from the essence of the research topic is also considered within the article. The study is based mainly on the analysis and comparison of corporate legislation of the United Kingdom and the Republic of Kazakhstan. The methods used led to the conclusion that the national legislation does not have a form of legal entity that is completely identical to community interest company. At the same time, the legislative implementation of the latter in the first place can contribute to the faster development of social entrepreneurship in Kazakhstan.