Governance of the scheme
What is the Consumer Codes Approval Board (CCAB)?
The Board is responsible for determining all matters relating to the approval of codes of practice and discharging its fiduciary responsibilities for the company; it consists of up to seven members.
The CCAB is responsible for:
• setting the (Community Interest Company) CIC objectives
• meeting the requirements of the CIC Regulator
• setting the core criteria for approval
• setting the budget requirement
• approving the subscription methodology and fees
• final approval of codes
• final discipline/revocation code approval
• fiduciary responsibilities for the CIC
• producing an annual report on the activities of the CIC
Community Interest Company (CIC)
The CCAB is a Community Interest Company. CTSI considers that establishing the new CCAB as a CIC will strengthen its focus both on reducing consumer detriment and acting in the interests of the community as a whole.
'We will act in the collective community interest, operating an open and transparent approach. We will welcome the use of the results of our scheme to ensure markets work well for consumers and businesses; parliamentarians are supported in their work and consumer advocacy is enhanced'.
Asset locked body
The asset locked body is responsible for distributing the assets of the company in accordance with the community interest statement in the event that the company is wound up.
The Trustees of the College of Fellows, our charitable and benevolent society, act as the asset locked body for CCAB.
Meet the Board
Chair - Lord Jamie Lindsay