URC COMPANY STRUCTURES

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URCCOMPANY STRUCTURES

• Scot Morrison,
• Associate, Eversheds

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• Primary Objectives
• Available Corporate Structures for URC Vehicle
• Issues Requiring Consideration

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Primary Objectives

• Assist, promote, encourage and secure improvement
  in social, physical and economic environment for
  the URC area
• Strategic partnership
• Flexibility to deal with a range of issues

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Corporate Structures for URC Vehicle

• Company limited by guarantee
• Company limited by shares
• Unincorporated association
• Other incorporated bodies
• Partnership
• Limited partnership
• Limited liability partnership

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Structural issues

• Identity of the key partners
• Participation structure
• number of directors
• composition of board
• operation
• Control
• Conflicts
• Funding
• Administrative and management structure
• Direction

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Other key areas

• Capital Finance Regime
• EU Public Procurement Regime
• Tax
• State Aid

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Documentation Required

• Memorandum of Association
• Articles of Association
• Members Agreement
• Funding Agreement

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Flexible Approach

• URCs are not based on a
• standard or fixed model but rather
• on a partnership approach which
• can be tailored to local
• circumstances.