Gibraltar Community Initiatives Limited/Community Supplies And Services Limited Statement
Below follows a statement from Gibraltar Community Initiatives Limited/Community Supplies and Services Limited:
The directors of Gibraltar Community Initiatives Limited (which is the parent of Community Supplies and Services Limited) would like to address the confused and misguided comments on social media and those made by some of the political parties in respect of their function.
Neither Gibraltar Community Initiatives Limited nor Community Supplies and Services Limited are opaque companies. Gibraltar Community Initiatives Limited is a charity registered with the Charity Commission under the provisions of the Charities Act.
The structure of Gibraltar Community Initiatives Limited is similar to that of Gibraltar Community Care Limited which has been in existence for over 30 years and has been accepted as a straightforward and well-regulated charity which has been proved for the benefit of Gibraltar.
Neither Gibraltar Community Initiatives Limited nor Community Supplies and Services Limited are entities hiding behind lawyers. They are entities which have two lawyers as directors to ensure that the charitable purposes of the entities are properly adhered to and, at all times, contract individuals and entities with the appropriate professional expertise.
The objects of Gibraltar Community Initiatives Limited are to advance and assist any programme, cause or arrangement which would benefit the Gibraltarian community at any level, such as the human, social, economic, educational and medical and which would constitute a charitable object under the laws of Gibraltar.
Furthermore, the directors may not employ the income of Gibraltar Community Initiatives Limited for any other purpose than in furtherance of the above-mentioned objects and to re invest the income in such investments as are carried out by Community Supplies and Services Limited. Gibraltar Community Initiatives Limited’s statutory documents do not provide for a mechanism by which it can distribute profits or donations to its members or any-one else. The profits are retained within the entities and utilised to benefit the community and charitable causes.
