115Profit-making and non-profit organisationsE+W
This section has no associated Explanatory Notes
(1)Each entry in the register shall designate the body registered as either—
(a)a non-profit organisation, or
(b)a profit-making organisation.
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[(3)A body is a non-profit organisation if—
(a)it is a registered or non-registrable charity and satisfies Conditions 1 and 2, or
(b)otherwise, it satisfies Conditions 1 to 3.]
(4)Condition 1 is that the body—
(a)does not trade for profit, ...
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)Condition 2 is that a purpose of the body is the provision or management of housing.
(6)Condition 3 is that any other purposes of the body are connected with or incidental to the provision of housing.
[(6A)The fact that a body is prohibited by its constitution from trading for profit does not, of itself, mean that it is a body which does not trade for profit for the purposes of subsection (4)(a).]
(7)The Secretary of State may make regulations providing that a specified purpose is to be, or not to be, treated as connected with or incidental to the provision of housing.
(8)A body which is not a non-profit organisation under subsection ... (3) is a profit-making organisation.
(9)If the regulator thinks that what was a profit-making organisation has become a non-profit organisation [or vice versa], the regulator must change the registered designation accordingly [and notify the body it has done so.]
[(10)Subsection (1) does not apply to the entry of a local authority in the register (and, accordingly, references to “profit-making” and “non-profit” in connection with a registered provider do not refer to a local authority).]
Textual Amendments
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