The Somerset Rules 2012 - newly revised and updated - are a unique set of I&PS
Model Rules for a multi-stakeholder co-operative, combining the accountability and
democracy of co-ops with the social reporting and investment opportunities
associated with social enterprise.
If you are registering a social enterprise, consider using these new rules. They have a number of
advantages that you may benefit from:
• different stakeholder groups can have a balanced voice in the business
• available as IPS Society (best for share issues) or Community Interest Company (best for asset
• ability to issue transferable and withdrawable shares
• bring in 'non-user' members with limited rights
• built in social accounting to maintain strong social returns
• mission orientated rules set a clear vision and direction
• future proofed against changes in the law
• plain english rather than legal english wherever possible
The flyers which you can download below demonstrate (a) some of the benefits and applications of the Somerset Rules and (b) some examples of how co-operatives in different sectors have used the Somerset Rules to provide an organisational structure and legal form which supports their aims.
For more information, please contact us at: firstname.lastname@example.org