As a Community Interest Company (CIC), The Aandaal Project is legally required to maintain an asset lock that ensures all assets and profits are permanently dedicated to Tamil heritage preservation. This creates an ironclad guarantee that our cultural assets can never be privatized or diverted from their mission.
What is a CIC Asset Lock?
The asset lock is a legal mechanism that:
- Permanently restricts how assets can be used
- Requires profits to be reinvested in community benefit
- Prevents asset stripping by future owners
- Ensures continuity of cultural preservation
Even if The Aandaal Project were ever dissolved, all remaining assets must transfer to another asset-locked organization.
Protected Heritage Assets
The following are permanently safeguarded by our asset lock:
Categories of assets protected under The Aandaal Project CIC's asset lock
- Cultural Properties:
- Ancient temple restoration projects
- Heritage site management rights
- Archaeological artifacts in our care
- Intellectual Property:
- Tamil language learning materials
- Traditional art documentation
- Cultural research databases
- Financial Assets:
- ANDAL Coin reserves (25% strategic allocation)
- Revenue from cultural tourism
- Endowment funds
Benefits to the Tamil Community
🔒 Permanent Protection
- No risk of privatization
- Assets stay dedicated to Tamil culture
- Legal enforcement by UK CIC Regulator
💼 Transparent Governance
- Annual "community interest" reports
- Regulator oversight of asset use
- Publicly filed financial statements
🔄 Reinvestment Guarantee
- Minimum 65% of profits reinvested
- No dividend payments to shareholders
- Executive salary caps
Legal Framework
Our asset lock operates under UK law with these key provisions:
CIC Regulations Summary
- Asset Lock: Articles 4-6 of our constitution
- Profit Distribution: Limited to 35% of surplus
- Dissolution: Assets transfer to similar CIC or charity
- Oversight: Office of the Regulator of Community Interest Companies
These provisions are legally binding and cannot be removed without regulatory approval.
ANDAL Coin Integration
- 25% of ANDAL Coin supply is asset-locked for community benefit
- Token holders vote on use of locked assets
- Smart contracts enforce asset lock provisions
- Transparent blockchain tracking of all transactions
"The CIC structure with its asset lock provides the perfect legal framework to ensure Tamil heritage preservation continues in perpetuity, beyond the lifespan of any individual or generation."
- The Aandaal Project CIC Board