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      <page pageid="88" ns="0" title="Recognised Qualifying Body">
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          <rev contentformat="text/x-wiki" contentmodel="wikitext" xml:space="preserve">=United Kingdom=

A '''Recognised Qualifying Body''' (RQB) is a term used in Companies Act 1989 and 2006 to describe organisations that accredit the experience of financial auditors.  The organisations include:

* Association of Chartered Certified Accountants (ACCA)
* Association of International Accountants (AIA)
* Institute of Chartered Accountants in England and Wales (ICAEW)
* Institute of Chartered Accountants in Ireland (ICAI)
* Institute of Chartered Accountants of Scotland (ICAS)
* Chartered Institute of Public Finance and Accountancy (CIPFA) since 2006

CIPFA's status as an RQB is currently in abeyance by FRC.

For further information, see [http://www.frc.org.uk/Our-Work/Conduct/Professional-oversight/Oversight-of-Audit/Recognition-of-Recognised-Supervisory-Bodies-and-R/Current-RSBs-and-RQBs.aspx the website of the FRC].


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      <page pageid="89" ns="0" title="Redemption Fund">
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          <rev contentformat="text/x-wiki" contentmodel="wikitext" xml:space="preserve">The '''Redemption Fund''' is created by allocating part of the [[Surplus]] to a special reserve fund for the creation of mutuals, co-operatives and charities that can buy members' [[Investor Shares]].  Without a [[Redemption Fund]], members would have to borrow capital to create the institutions defined in Clause 10(a)(iv).

As defined in Clause 10(a), a [[FairShares Company]] plans, from the outset, to create one or more of the following:

# A '''FairShares Labour Association''', '''Employee Benefit Trust''' or '''Co-operative Society''' established for the purpose of buying and selling (redeeming) Labour shareholders’ investor shares and managing the income from them for the benefit of employees;
# A '''FairShares Association''', '''Charitable Trust''' or '''Charitable Company''' established for the purpose of buying and selling (redeeming) members’ investor shares, and managing the income from them to support charitable projects;
# A '''FairShares User Association''', '''Community Interest Company''', '''Community Benefit Society''', '''FairShares Company''' or '''FairShares Co-operative''' created or selected to purchase (redeem) members’ investor shares and manage the income from them to make social investments in a community.

The Redemption Fund provides the start-up capital for these organisations.  Thereafter, they are funded by income derived from their shareholdings in [[FairShares Company|FairShares Companies]].


'''Outside the UK'''

Not all countries will have laws for the creation of employee benefit trusts or charitable trusts, but they may have alternative laws that enable organisations for employee, community and public benefit to be created.  When incorporating in other countries, refer to the legal forms that permit decisions to be taken in the interests of the workforce, community or public.

In the US there will be varying levels of state-level provision for:

 Non-Profit Corporations (Non-Profit Law)
 Employee Share Ownership Plans / Trust (ESOPs and ESOTs)
 Benefit Corporations (Company Law)
 Co-operatives (Co-operative Law)

In Japan there is national provision for:

 Specified and Certified Non-Profits (Non-Profit Law)
 Social Responsibility Corporations (Company Law)
 Co-operatives (Co-operative Law)[http://www.uwcc.wisc.edu/icic/def-hist/country/japan/Review-of-Co-op-Laws-in-Japan--1997-1.html]


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